HPI Index: June 2023


HPI Index: March 2023

 Stabilization of interest rates have home prices rising again!

HPI Index: Toronto and Niagara


HPI Index: Niagara and Toronto: since start of Covid


2022 Summary

  Happy New Year to you all! I hope 2023 will be a wonderful year for you and your family. Here is a summary of various statistics for the Niagara Real Estate Market for the past five years. With all the News Reports, Social Media talk and chatter among friends, I thought it may be good to look at some "hard data", I know it helps me put things in perspective! If you are not in Niagara, the numbers for most areas seem to reflect a similar situation. Feel free to pass this on to anyone you think may be interested! Here is my take on the "Numbers"; - Selling Prices are down 23% from the March 2022 Highs - Selling Prices are down 12% from December 2021 to December 2022. - Selling Prices are now similar to the Spring of 2021. - The Current Average days to sell is 48 days. This is up from 22 Days to sell in December 2021. Overall the market is the slowest it’s been for sales in the past 3-4 years.   Average prices have almost leveled out – there were significan

Slow Real Estate Trends Continue in November 2022

 Rebounding interest rates kept prices muted in Toronto and Niagara for November 2022.  Both markets saw a decrease in their Housing Price Index (Toronto down about 0.5%, Niagara down about 1.7%) against October 2022.  The recent 0.5% rate announcement increase by the Bank of Canada should continue to keep activity soft for the month of December. January/February is traditionally a rebound time for market activity in Southern Ontario.  The steep rise in interest rates over the past 9 months may bring an uptick in activity driven by some homeowners becoming "house-poor" when re-negotiating their mortgages from Covid-era low rates, to current much higher rates.  Time will tell if/when this has an effect.