The media and the January stats are not painting the full picture of what's going on in Toronto's real estate market. You hear about rising interest rates lowering demand, prices decreasing and far fewer transactions.
This is all true, or has been true in recent months, however there is growing, pent-up demand happening right now. Many sellers are pricing their homes correctly and we're seeing multiple offers. I can only imagine this will lead to growth in values once again.
For buyers still waiting on the sidelines, this is your warning. Things are picking up! Many realtors I've talked with are experiencing the same thing. Buyers are coming back into the market.
Smart sellers may take advantage of this over the next few weeks. Will an influx in sellers saturate the market and calm this growing demand? That remains to be seen, but I will watch closely and keep everyone informed! - Andrew
