As the comedian said, “There~q~s good news and there~q~s bad news”.

The good news

There was a huge year over year jump in home sales in April, up 16.8 %to 9,042 compared to 7,744 in April 2018, with a significant 1.9 %  price increase.  Price growth continued to be driven by thecondominium apartment segment which is up 5% since the start of the year,followed by semi-detached homes up 2.1%. Despite the 2% mortgage stress test, detachedand luxury homes are selling, and as of the end of April, 1,433 homes sold over$1,500,000 with 593 in excess of $2,000,000. Last year, experts were concerned thatmortgage rates would increase, it appears that those concerns were unfounded aslonger term borrowing costs have trended lower this year and appears willcontinue for the rest of the year.

The bad news

Listings are down by 1% from the same time last year. Lack of inventory,

demand and the resulting bidding wars and increasing prices are theresult. Household formations andimmigration are running ahead of home construction and the reality is thatToronto is in and will continue to experience a continuous scarcity ofinventory. This scarcity will cause prices to continually rise ahead ofhousehold incomes, causing affordability to be under pressure and will pushboth purchasers and renters outside of the GTA. This will not be their firstchoice but a choice created by necessity.

More good news….maybe.

In response to the tight market, the provincial government announced inApril their Housing Supply Action Plan to reduce red tape and improve the mixof housing types, in an effort to increase housing inventory. While the ideasare long overdue, announcing and implementing are two different things. As Ihave been pointing out for the last 10 years, Toronto has to build and complete110 new condominium towers EVERY YEAR just to meet new demand, and that has notbeen happening.

It’s an opportunetime to invest in real estate. Either in rental properties or in trading upyour personal home. Great opportunities exist today in both.

一、 【房屋销量】2019年4月共售出9,042个房屋，同比2018年4月上涨16.8%

1. 独立屋2019年4月售出4,173，同比2018年4月上涨21.9%

2. 半独立屋2019年4月售出856，同比2018年4月上涨20.4%

3. 镇屋2019年4月售出1,537，同比2018年4月上涨20.3%

4. 公寓2019年4月售出2,357，同比2018年4月上涨6.7%

二、 【房屋均价】2019年4月房屋均价$820,148，同比2018年4月上涨1.9%

1. 独立屋2019年4月均价$1,018,147，同比2018年4月下跌1.3%

2. 半独立屋2019年4月均价$808,796，同比2018年4月上涨2.0%

3. 镇屋2019年4月均价$655,994，同比2018年4月上涨1.6%

4. 公寓2019年4月均价$588,168，同比2018年4月上涨5.1%

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