2016/2017 CHMC housing market outlook for the GTA
A short and easy to read summary of the CHMC study on the 2016/2017 CHMC housing market outlook can be found on this page and a link to the entire downloadable report can be found at the bottom of this post.
At any time, if you wish, you can request a one on one meeting or conversation to learn details of this educational study by phone or text dialing 416-262-7139
Mortgage rates may stay steady for the next 1 or 2 years
- Home buying affordability may decrease
- Toronto is the most expensive city
- Supply will keep the resale market balanced
- 30,000 condos in GTA
- 2017 prices will go up 2%
- Price growth to slow
- Pace of construction to ease
- Condos to dominate construction increase
- Low inventory has led to higher prices
- Low-rise sales trending higher
- Unemployment and earnings growth is low
- Bank of Canada lowers target rate
- Price growth outpacing income growth
- Price growth reflects sales of expensive homes
- More transactions are in the expensive house market
- Condo inventory above historical level
- Growing long-term investor activity
- Most condo inventories are bought to be rented
- Condo investors are there for a long run
- Slower price appreciation for new condos
This study may be very useful for all those who are engaged in one way or another in the housing market in the Greater Toronto Area; Whether you are seeking to purchase a home or condo in the coming 2 years or you already own a real estate property, this insight may help you to take a wise decision.
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