President’s Toronto SUN Column: Deciding When To Sell

Author: Toronto Real Estate Admin / Category: Toronto Realtor

TREB President’s Column as it appears every Friday in the Toronto Sun’s Resale Homes and Condos section.

November 14, 2014 — If you are considering making a transition to your next home in the coming months, you’re not alone.  So far this year, more than 73,000 other Greater Toronto Area residents have made the decision to lay down new roots.

In fact, hundreds of thousands of people move around or into the GTA each year.  According to Statistics Canada’s 2011 National Household Survey, more than 600,000 GTA residents reported moving in the year leading up to the survey day.  With a home ownership rate close to 70 per cent in the GTA, a lot of these people were buying a home, and at the outset of nearly every one of these transitions, indecision was likely a common hurdle. If you’re faced with a similar stumbling block, as a first step toward deciding when to sell, consider the data.

Since those who achieve strong selling prices typically also buy when the market is driving such conditions, your decision shouldn’t be based primarily on prices. Instead, consider factors that will allow you to carry a new mortgage for the long-term such as interest rates and employment statistics.

Demand in your local area is another important factor to keep in mind. If the house three doors down is also for sale you might mistakenly prefer to avoid direct competition when in fact, nearby available properties serve as an ideal opportunity for exposure to a larger pool of potential buyers.

It’s important to make a thorough assessment of your reasons for wanting to move in order to avoid the possibility of sentiment affecting your judgment once the process begins, and to have a clear idea as to your future needs. In fact, being able to envision your next home and view your existing dwelling as a product being taken to market are key indications that you’re prepared to make the transition.

Consider whether your current home’s square footage and features are right for your needs, whether you are close enough to work and schools, and whether your neighbourhood truly reflects your lifestyle preferences. If any of these key factors aren’t in line, that’s a signal it’s time to move.

Closely examining your personal finances. It’s important to consider factors such as your mortgage balance and any penalties for breaking your current financing agreement. As part of this process it’s wise to hash out a rough budget that includes the approximate purchase price of your next home, applicable taxes, professional fees and moving expenses. As well, a REALTOR® can offer you insight into recent selling prices of comparable homes in your area.

Once you’re armed with all of this information, ask yourself if you’re ready to make the transition. The way you live in a home and the way you show a house can be very different: be sure that you have the time needed to get your home ready for market and that you have enough flexibility to allow for viewings.

To get an objective perspective on whether now is the right time to make your next move, talk to a Greater Toronto REALTOR®, and for more information on the process of buying and selling a home, visit

Paul Etherington is President of the Toronto Real Estate Board, a professional association that represents 40,000 REALTORS® in the Greater Toronto Area.

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October 2014 Housing Starts in Toronto

Author: Toronto Real Estate Admin / Category: News Bulletin

TORONTO, November 10, 2014 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended lower at 27,895 units in October compared to 29,713 in September according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.

“A stable economy continues to support housing demand, as evidenced by the fact that the number of low rise starts has remained steady. Despite monthly variations, apartment starts increased in October following unusually low activity in September. However, the longer term trend points to a decline in high rise starts,” said Dana Senagama, CMHC’s Toronto Senior Market Analyst. “Fewer pre-construction condominium apartment sales between mid-2012 and mid-2013 continue to translate to lower starts during the second half of 2014.”

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.

The stand alone monthly SAAR was 25,611 units in October, up from 15,081 units in September. The increase was attributed to both low and high rise starts.

The municipality of Brampton recorded the highest number of starts in October, which was followed by the City of Toronto and Markham. Strong single-detached and apartment construction led Brampton to the top this month.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables.

As Canada’s national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

1 All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) — that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

Follow CMHC on Twitter @CMHC_ca

Information on this release:

Market Analysis Contact:

Dana Senagama

Media Contact:

Beth Bailey

Additional data is available upon request.

Source: CMHC
1 Census Metropolitan Area
2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR).
Detailed data available upon request

Source: CMHC

Source: CMHC

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