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CMHC Says 'Toronto Housing Market Downturn To Be Short-Lived'

The federal housing agency says the current downturn in Toronto’s housing market is expected to be short-lived.

Canada Mortgage and Housing Corp. (CMHC) says Toronto property prices, which have fallen over the last couple of months, should pick up again as demand bounces back.

The Ontario government introduced measures in the spring, including a 15 per cent tax on foreign buyers, to cool down a market that many regarded was overheating.

Read more:Toronto housing market’s downturn may have an upside

CMHC says similar policy changes introduced in Vancouver last year reduced the number of foreign buyers in that city, but Greater Vancouver’s housing market has since pushed back up.

In its latest housing market assessment released today, CMHC kept its overall risk rating for the national housing market at strong.

The report, which is based on data from the first three months of this year, precedes the Ontario government housing rules introduced in the spring.


Find the Full Article Here: https://www.thestar.com/business/real_estate/2017/07/26/cmhc-maintains-strong-risk-rating-for-national-real-estate-market.html

Another Great read by the financial post offers a different look on the 'Housing Market' proving that in the end Location really does trump everything. Check it out here: http://business.financialpost.com/real-estate/is-there-anywhere-to-hide-in-torontos-falling-housing-market-just-maybe/wcm/548ebbf8-32b5-4fd4-8aa1-b55a911b8954

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Buyer ServicesBUYER SERVICES

Have you ever spent countless hours search through the MLS system seeing the same homes over and over again looking for the perfect home, hoping to find something new?   Then, when you do find what could be your dream home, you call the listing agent only to find out it has already sold?

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Mary Roy & Team have been selling homes in the Durham Region since 1987!  Ranked in the top 1% of Realtors across the GTA and Durham Region, we know what it takes to get homes sold fast, and for the most money.We provide each of our clients with a comprehensive plan of action outlining exactly what will be done to get their home SOLD and for the MOST MONEY! We will provide you with up-to-date information on your marketplace, as well as the price and details of competing properties.