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 Keller Williams Co-Elevation Realty in Toronto. In this episode I do a deep dive into the recent Band of Canada interest rate announcement, the recently released TRREB Market Stats for May 2025, and check in with Stats Can for the immigration/emigration counts. All of this to prepare you for what will be a challenging summer for real estate and the economy.
4 Key Takeaways:
- TRREB reported 6,244 home sales in May 2025, down 13.3% year-over-year but marking a second consecutive monthly increase.
- The average selling price fell 4% from May 2024 to $1,120,879, improving affordability.
- Inventory levels have risen, especially in the condo market, with over seven months of supply now available.
- Despite lower borrowing costs and prices, economic uncertainty—particularly related to U.S. trade—continues to weigh on buyer confidence.
- Canada enjoyed a net gain of ~402,000 people through international migration in 2024.
- Ontario alone added approximately 161,000 people—a significant portion of Canada’s growth.
Bottom Line:
The GTA market is offering improved affordability and more selection, especially for condo buyers. However, broader economic concerns are keeping some would-be buyers on the sidelines. This situation will continue heading into the summer market. It will however start to turn around as we move into fall. The next BoC announcement on July 30 will be a reflection of the key economic and job indicators announced over the next 6 weeks.
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!
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Ridiculous History
History is beautiful, brutal and, often, ridiculous. Join Ben Bowlin and Noel Brown as they dive into some of the weirdest stories from across the span of human civilization in Ridiculous History, a podcast by iHeartRadio.