Year Over Year Ontario Real Estate Prices are Stable. New Homes. Rents at a Record High. Inflation is Back. Frozen Housing Market.

CURRENT INTEREST RATES IN CASE YOU MISSED IT...MORE REAL ESTATE NEWS Two major changes to Ontario real estate legislation that affect cottage buyers and sellers (Cottage Life) Year-over-year Ontario real estate prices are stable (Barrie Today) Deep freeze in December Guelph real estate market (Guelph Today) Housing starts fall again as Waterloo Region drifts farther from its goals (Waterloo Region Record) These cities had biggest new selection of homes for sale in Ontario (Insauga) Does affordable housing have to lack creativity? (The Hamilton Spectator) What experts say we can expect from Waterloo Region's housing market in 2024 (CTV News) Canadian rent prices end 2023 at a record high, up 22% in two years (Canadian Mortgage Trends) Inflation crept back up in December: “We’re not out of the woods yet” (Canadian Mortgage Trends) 3 reasons why the frozen housing market of 2024 is actually more active than before the pandemic, Zillow says (Yahoo! Finance) 'It’s a real problem:' Housing starts across Canada fall seven per cent in 2023 (Toronto Star) 2023 marked slowest year in Canadian home sales in 15 years, but ended with December “bounce” (Canadian Mortgage Trends) Mortgage holders say they can make higher payments as Canadians cut spending: survey (CBC News) Atlantic, federal housing ministers agree factory-produced homes offer way forward (CBC News) Another Bank of Canada interest rate hike within realm of possibility, outlook event hears (Yahoo! Finance) Economists think inflation started rising again in December (Yahoo! Finance) Big banks slash mortgage rates this week to reflect lower bond yields in Canada (Canadian Mortgage Trends) Canada real estate: Home prices up 4.3% in Q4, with higher prices expected in 2024 (Yahoo! Finance) Does it make sense to port your mortgage to the new house you just bought? (Toronto Star) Housing minister warns against resistance to ending exclusionary zoning (CBC News) Canadian landlords saw record-high rents of $2,178 last year: Rentals.ca, Urbanation (Real Estate Magazine) Bank of Canada may trail U.S. Federal Reserve rate cut as wage growth runs hot (The Globe and Mail)   Diana Winger, REALTOR® CNE, SRS, SRES, ABR Mortgage Agent, Level 1 Valko Financial LTD #13047 eXp Realty | Dominion Lending Centres |  226-705-3369 | 250-588-8839 ON YOUR TEAM! WingerRealEstate.com Housesforsale365.com   |   SearchBestMortgages.com  

MORE

December Numbers are In. Are we in a Recession? Presale Risk and the Turning Point in the Housing Market.

CURRENT INTEREST RATES IN CASE YOU MISSED IT...MORE REAL ESTATE NEWS Kitchener-Waterloo leads nation in housing price decreases since June: report (City News) 'Market conditions': Slow December caps off worst year for GTA real estate sales in 23 years (Brampton Guardian) Real estate prices have dropped in many Ontario markets since June. These are the communities with the biggest declines (CP24) National Post – Kitchener-Waterloo leads price fall in Canadian real estate: report Toronto is a step closer to building one of the largest affordable housing projects in decades (CBC News)  'People need to have comfort': House prices keep rising in Oakville but dropping in Burlington while sales drop in both municipalities, new real estate report reveals (Inside Halton) Economists see 'turning point' in housing market this year as interest rate cuts loom (CTV News) 82 per cent of Canadians believe the country is in a recession: survey (iHeartRadio) A wave of defaults has real estate lawyers urging presale buyers to be cautious (CBC News) The brutal 2023 housing market was just like the 1980s—except with a little bit of Global Financial Crisis thrown in (Yahoo! Finance) Financial Post - GOLOMBEK: Buying your first home? These are the top 3 tax strategies to use Financial Post – This Canadian housing market just had its worst year since 2000 Financial Post – Mortgage payments set to jump $400 a month, but Canadians can cope, say banks Financial Post – Housing market faces 'turning point' with Bank of Canada rate cuts this year National Post – HOLMES: How to make the most of multi-generational living Globe and Mail – Economists see ‘turning point’ in Canadian housing market this year as interest rate cuts loom Fixed mortgage rates are on the decline. Is now the time to lock in? (Global News) Canadian homeowners face large increases to property taxes (CTV News) Digging for deals in the winter real estate market (The Globe and Mail) Even with expected rate cuts, mortgage payments will continue to rise for years: BoC research (Canadian Mortgage Trends) The housing market is heading for the affordability of 2 years ago, Morgan Stanley says. Here’s why its home price forecast is unchanged (Yahoo! Finance) As weather-related disasters mount, some Canadian homeowners can't get insurance coverage (CBC News) Interest rate cut forecasts for 2024 too optimistic, National Bank CEO warns (The Globe and Mail) Strategies to reveal winter real estate deals (The Globe and Mail) Calgary transforms old offices to apartments; experts say other cities should follow (CTV News Calgary)   Diana Winger, REALTOR® CNE, SRS, SRES, ABR Mortgage Agent, Level 1 Valko Financial LTD #13047 eXp Realty | Dominion Lending Centres |  226-705-3369 | 250-588-8839 ON YOUR TEAM! WingerRealEstate.com Housesforsale365.com   |   SearchBestMortgages.com     Share Tweet Forward

MORE

Happy Holidays! Last Week for the First Time Home Savings Account & Real Estate News

As the year draws to a close, I wanted to take a moment to reflect on the past twelve months. Beyond the world of real estate and mortgages, 2023 has been a year filled with personal milestones, joyous occasions, and cherished memories with family. One of the highlights that stands out for me is the unforgettable Whistler snowboarding experience. Sharing the slopes with the father of a snowboard olympian and even capturing some jump videos made for an exhilarating adventure, one that will be etched in my memory for years to come. A surprising and heartwarming moment was the Blue Jays game I attended as a surprise for my dad's 70th birthday with all of my siblings and their families. The joy on his face and the shared excitement of the game created memories that will forever be cherished. We had pretty great seats, too. Home took center stage this year as I had the pleasure of hosting four memorable parties, including a spectacular 40th surprise celebration for my brother-in-law. There's nothing quite like the warmth of family and friends gathered under one roof. On a bittersweet note, we said goodbye to a beloved member of our family, Cleo, our beautiful cat. While it was a difficult farewell, we find solace in the long and happy life she lived, leaving behind cherished memories. Both doggies healthy and happy and so is our cat Rumi. I feel blessed to have such cuteness in my life! Family celebrations continued with a beautiful wedding and the arrival of a new baby boy, adding to the growing list of adorable nephews who bring so much joy and love into our lives. Sports enthusiasts will appreciate the thrill of being just eight rows from the ice at a Leafs pre-season game against the HABS. The energy of the game and the proximity to the action made it an experience to remember. As the year concludes, I am wrapping up 2023 with a trip to spend time with family and soak in the sun in the south—a perfect way to rejuvenate and reflect on the blessings of the past year. I want to express my sincere gratitude for allowing me to be a part of your real estate journey. It's clients like you who make every day in this profession rewarding and fulfilling. Wishing you a joyous holiday season and a new year filled with happiness, good health, and continued success. Thank you for being a valued part of my 2023 journey. Best wishes in 2024!Diana. 2023 IN REVIEW... PHOTO HIGHLIGHT VIDEO   CURRENT INTEREST RATES IN CASE YOU MISSED IT...MORE REAL ESTATE NEWS RECO Information GuideTRESA Global News – Underbidding now taking place in many real estate markets across Ontario: realty company RECO Guide link - https://www.reco.on.ca/getmedia/da38cca5-8432-4018-821e-57260d6caebc/RECO-Information-Guide.pdf Here’s why prospective first-time buyers should open a First Home Savings Account before Dec. 31 (Canadian Mortgage Trends) Mortgage Professionals Canada - The Housing and Mortgage Market Review: December 2023 Financial Post - Record population growth risks aggravating Canada's housing headaches, say economists Financial Post – 'Record after record'— Canada's population grows at fastest pace since 1957 Financial Post – Bank of Canada's Macklem talks down interest rate cuts, but says 2% inflation 'now in sight' Financial Post – VIDEO: Expect Canadian real estate market to come 'unstuck' in 2024 Globe and Mail – EDITORIAL: B.C. drafted a bold housing blueprint. The rest of Canada should copy it Storeys – B.C. is allowing up to six units per lot. Will they actually be built? Canadian Mortgage Professional – What is Canada's latest population figure? Five-year fixed mortgage rates fall below 5 per cent as bond markets anticipate rate cuts (CTV News) A comprehensive retrospective of CMHC housing reports (CHMC) Canadian Real Estate Association CREA - Housing Market Snapshot for November 2023 Canadian Real Estate Association CREA - Canadian Home Sellers Joining Buyers on the Sidelines Canadian Real Estate Association CREA - VIDEO: Housing Market Report Canadian Real Estate Association CREA - Bank of Canada Holds Policy Rate at 5% in Final Announcement of 2023 Canadian Real Estate Association CREA - Things You Can and Can’t Negotiate When Buying a Home Canadian Real Estate Association CREA - Why Open Houses Can Be Helpful, Even If You’re Not Buying Just Yet Can Canadian homeowners stay on top of mortgage payments in 2024? (Wealth Professional) The silver lining of Canada’s real estate market recession (Real Estate Magazine) Buyers are tuned out, despite mortgage rates hitting lowest point since June (Yahoo Finance)     Diana Winger, REALTOR® CNE, SRS, SRES, ABR Mortgage Agent, Level 1 Valko Financial LTD #13047 eXp Realty | Dominion Lending Centres |  226-705-3369 | 250-588-8839 ON YOUR TEAM! WingerRealEstate.com Housesforsale365.com   |   SearchBestMortgages.com  

MORE