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June 2019 Market Update

 
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 JUNE 2019


This is only the second time in 21 years that Canadian home prices have failed to rise in April

TORONTO — Canadian home prices were unchanged in April, failing to rise for the eighth consecutive month, data showed on Tuesday.

The Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes, showed prices were flat last month from March.

It was just the second time in 21 years of data that the index showed no increase in April, said Marc Pinsonneault, a senior economist at National Bank of Canada. The index also fell in April 2009, during the global financial crisis, Pinsonneault said. (read more)

Tight Housing Inventory, Stiff Competition – How Homebuyers Can Best Navigate the Market

Ah, the amenities of city living. Restaurants, theater and entertainment all within walking distance. Sound appealing? Millennials and baby boomers sure think so.


When it comes to house hunting, the two generations – millennials, age 23-38, and baby boomers, age 55-75 – have more in common than ever before. In fact, the 2018 National Association of Realtors (NAR) Home Buyer and Seller Generational Trends Report found that the average size of home purchased between the groups was nearly identical, and the median price of the home purchased was comparable despite the difference in life stages between these two groups.


“Right now, both generations of homebuyers are going for the smaller updated ranch with the price point being in their first house or downsize range,” said Denis Murphy, Broker/Owner of RE/MAX Unlimited in Bohemia, New York, of the trend in his market.

With housing inventory remaining tight in recent years, millennials and baby boomers are often going head-to-head when making offers on a limited number of homes. Both generations can come out winners, and happy homeowners, if they navigate the housing market correctly. (read more)

A Step-by-Step Guide to Building a Budget You Can Actually Stick To

If you’re anything like me, you’re perpetually swinging between vowing to cut all unnecessary spending cold turkey and humming “Treat Yo’self” as you order your third UberEats meal in 12 hours.


Which one you’re doing depends on the day — and how long it’s been since your last paycheck.


The result: a pitiful savings account balance, scrimping to pay the minimum on your credit card and feeling like you’re still living paycheck to paycheck even though your income has come a long way since your first job out of college.


You know there is a way to solve this problem. You know that if you just create a budget — and by some miracle, stick to it — you could finally get the financial freedom everyone else seems to have already figured out.


You also know budgeting is a buzzkill. But if you give it a genuine shot, we promise that we will, too. We’re in this together. (read more)

60 Beautiful Backyard Ideas

Whether you're considering adding touches both tiny (potted plants, painted fences, bistro tables) or large (pools, pergolas, swing sets) you'll find plenty of summertime inspiration from some of these beautiful backyard ideas. (read more)


 SALES AND ACTIVE LISTINGS COMPARISON   (MARCH 2019 - APR 2019) 

M.O I. - MONTHS OF INVENTORY

 BENCHMARK PRICES (APR 2019)

* percentage represents a year change 

* benchmark price represents typical property within each market


 MORTGAGE RATES


RE/MAX Liveability Report for Vancouver area

For more information about the report please visit remax.ca.


Our next door neighbour is having a ONE YEAR ANNIVERSARY PARTY - EVERYONE IS INVITED!

To RSVP or any other inquiry please click HERE

 
 
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