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Market Watch - August 2020
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Market Watch - June 2020
Market Watch - May 2020
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Market Watch - March 2020
COVID-19 & Toronto Real Estate Market
Keep in mind the situation regarding COVID-19 is changing on a day-to-day basis. This article is a breakdown of the current COVID-19 situation (as of March 25th, 2020) and how it relates to the Toronto real estate market from the perspective of a local Toronto Realtor.
We're entering the ordinarily busy spring market for Toronto real estate, but as it stands now, everything is at a standstill. Sellers are reluctant to let any potential buyers into their homes and buyers are self-isolating, not leaving the house. Across the GTA, the number of listings is down, and the amount of demand is down - way down. I have personally experienced plenty of listings in Toronto cancelled due to the COVID-19 pandemic.
Bank of Canada cuts interest rates - what you need to know
The Bank of Canada cut the interest rate last week in an apparent bid to deal with the economic shock created by the threat of coronavirus.
The Bank reduced the national interest rate by 0.50% to 1.25% on the 4th March, following the cut by the US Federal Reserve the day before.
The threat of coronavirus has caused business activity to fall sharply in some regions and the currency to depreciate, while the Bank warned that business and consumer confidence could fall further.