Sabi  Ahsan

Sabi Ahsan

Sales Representative

Sutton Group Incentive Realty, Brokerage *

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Sabi Ahsan's blog

Are Toronto Home Prices Headed Lower ?

The July 2021 statistics are out for the Toronto Real Estate Board showing a fourth month of slow down since the March peak. The average price increase compared to July 2020 is now down to 12.6 percent, compared to the 38 percent spike seen earlier. I am encouraged to see restraint by Buyers from participating in irrational bidding wars. I maintain my advice to real estate investors to lighten their holdings in the SW Ontario market in general and rural properties in particular.

Economic Commentary

The economic winds are shifting. Opinions vary about the shift being transitory or a secular, long term shift. I personally believe that this is a secular shift. I recognize that it is very risky to say anything given how fast, and how many times, predictions have changed since March of 2020. However the consequences are serious, so it is worthwhile to consider our choices.

What to expect in August/September real estate market ?

While this remains a Sellers market due to the low listing inventory, the irrational exuberance of the Fear of Missing Out (FOMO) buyer is getting less frothy, with potential obstacles to sustained price increases on the horizon. Investor clients with excess investment inventory should consider rationalizing their portfolio by lighening their position. It would appear that there is a growing trend of people returning to the Office and downtown apartments as Covid fears decline.

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