Hello, everyone.
I provide you with Canada’s news headlines for real estate news for today.
Toronto Condo Prices Soar 28%, Pass Half-Million Mark
According to Huffington Post,
Despite the slowdown in the broader market, new data from the region’s real estate board shows condo prices in the Greater Toronto Area have now passed the half-million-dollar mark, after soaring 28 per cent in the second quarter of this year.
The detail is here.
Rising loonie: Who wins and who loses?
According to CBC News,
Buoyed by strong sentiment about the state of the Canadian economy, and getting the benefit of general weakness in the U.S. greenback, the Canadian dollar is now flying in territory it hasn’t seen in two years.
A recent interest rate increase by the Bank of Canada, and the expectation of more to come, has the loonie up about 10 per cent over the past six weeks. The Canadian dollar rose above 80 cents US on Monday before closing at 79.97 cents US.
As with any big fluctuation in our currency, there are those who will benefit from it and those who will feel the pinch.
The detail is here.
Toronto, Vancouver home sales slow, but don’t expect prices to follow
According to Financial Post,
Housing sales figures may be declining in Toronto and Vancouver, but with listings remaining scarce, economists are warning that significant gains in affordability may prove elusive.
Existing home sales in Toronto fell 15.1 per cent in June, a second-consecutive monthly decline that left resale activity 42 per cent below its March peak, according to a report from TD Economics.
The detail is here.
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Jethro Seymour, Toronto Real Estate Broker, Looking For Best Davisville Real Estate Listings? Contact Me!
