The TRREB December 2024 Market Stats are hot off the presses! In this first episode of 2025, I provide you with important trends, stats and insights that you NEED to know heading into the spring real estate market.
Ciao! Welcome to a new episode of Building Wealth Through Real Estate...Brick by Brick with me, Nico James-Bock, Founder of The CondoWiz™ Group and Broker at Royal LePage Signature Realty in Downtown Toronto.
Key Takeaways from this episode:
With demand set to continue trending higher into next year, the big variable to look out for is supply. While new listings have recently begun to taper off, a spike in mortgage renewals next year could cause more supply to arrive on the market.
Across the country, 1.2 million mortgages will come up for renewal, 85% of which were contracted when the Bank of Canada’s policy rate was below 1%, resulting in an expected 22% average increase in mortgage payments for these borrowers.
However, the impact on delinquencies and housing supply is likely to be contained, as these borrowers were stress tested at higher rates and incomes have also risen considerably over this period.
Politics and population growth will also play a part as they are closely tied to economics and represent the 3 significant factors affecting house prices.
Ciao ciao 👋🏼
Helping you increase wealth through #realestate
Book a time for a quick 15min Chat - Discovery: https://calendly.com/thecondowiz/15min
Social:
https://linktr.ee/nicojamesbock
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com