Tuesday, June 10, 2008

Spring 2008 Housing Market Outlook for the GTA

I just wanted to pass on some highlights from the Spring 2008 Housing Market Outlook for the GTA. I am sure you will find this information useful.

Here are some highlights:

"More home buyers will meet their housing needs through the purchase of an existing home, in response to increasing choice in the resale market, as the gap between listings and sales widens. Generally speaking, when there is more choice in the resale market, fewer buyers will opt to purchase a home at the pre-construction stage of development and wait for completion a year or more into the future"

"Affordability underlies the increasing popularity of high-rise condominium apartments in the Toronto area. As the cost of owning a home has increased steadily since the turn of the new millennium, many households have had to turn their attention away from comparatively expensive low-rise housing types, in favour of condominium apartments."

"Even with more moderate sales over the next two years, existing home sales will still remain higher than the average for the last 10 years and in line with the average over the past five years.

"When buyers have more homes to choose from, they are less likely to make offers at or above list, or to enter into 'bidding wars' with other buyers"

The last page has the Forecast Summary which is also worth taking a look at.

Today's lowest interest rates for a five year fixed start at 4.90%. The five year ARM is at 4.10% (prime - 0.65).

Read more about:Homes for Sale

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,


A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987

( BUS 905-828-3434
8 Website : Mississauga4Sale.com

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