#WednesdaysatHomeLove – The Summer Market

“Here’s what to expect in the market this summer”

via Canadian Real Estate Magazine.

“The GTA real estate market has been on fire for about a year now, but latent cooling signs that have emerged in the last couple of months should last through summer…”

“…The typically busy spring real estate market was muted in 2020, deferring to summer, but, as COVID-19 inoculation continues spiking and stringent lockdown measures ease, this summer should be routine. A telling sign is that listings are creeping up again, suggesting that demand has waned from its peak a few months ago when homes were scooped up almost as quickly as they were listed.

Rescinding pandemic-induced restrictions isn’t the only reason for the apparent deceleration of homebuying activity, though…”

“…Rates aren’t likely to increase, however, and the dip in demand is only temporary because the resumption of mass immigration almost certainly will cause demand to supersede what it was even before the pandemic. Moreover, even with sales declining the last two months, they’re still at record levels…”

“…The surging vaccination rate is, arguably, having the biggest impact on the GTA’s real estate market, says Davelle Morrison, because people are travelling again…”

To read the full article, click here.