Key Trends: 1. Supply & Demand 📊 • New listings: ⬆️ 21.3% (year-over-year) • Active listings: ⬆️ 58.3% (year-over-year) • Sales: ⬇️ 13.3% (year-over-year) What it means: More homes for sale, fewer buyers. Like a store with more inventory but fewer customers. 2. Prices 💰 • Average price: ⬇️ 4.6% (year-over-year) What it means: Prices adjusting to new market conditions, but not drastically. 3. Market Balance ⚖️ • Months of inventory: 3.8 (up from 3.3) • Sales-to-new listings ratio: 43.5% (down from 50.0%) What it means: Moving towards a balanced market. Buyers gaining more power. 4. Construction 🏗️ • Units under construction: ⬇️ 7.5% (year-over-year) What it means: Fewer new homes being built. Could affect future supply. 5. Economic Factors 📈 • Population: ⬆️ 3.5% (year-over-year) • Unemployment: 7.0% (up from 6.7%) • Mortgage arrears: Steady at 0.13% What it means: Growing population = long-term demand. Slight rise in unemployment may impact short-term demand. Impact on Key Groups: 1. Buyers 🛒 • More choices • Less pressure to decide quickly • Better negotiating power 2. Sellers 🏡 • Homes may take longer to sell • May need to adjust prices • Important to make properties stand out 3. Investors 💼 • Potential for good deals • Need to focus on long-term value • Rental income may become more important 4. Policymakers 📋 • Monitoring economic impact • Balancing housing supply and affordability Remember: Real estate is local. Conditions may vary by area. Always consult local experts for specific advice. Bottom Line: Ontario's market is rebalancing. It offers new opportunities for buyers but requires sellers to adapt. The strong population growth suggests long-term stability despite short-term adjustments.​​​​​​​​​​​​​​​​

Hi everyone! I’m Elio, happy to be here. I’m the founder of SOCIAL KNOW HOW®, a leading social media marketing and digital advertising agency in Vaughan. I’m excited to join to learn, explore, and share within this powerful group Miki has created. 👋👍

Key Highlights • Overall Market Activity: • 📉 Sales: 7,466 homes sold in June 2024, a decrease of 10.5% compared to June 2023. • 📈 New Listings: 15,679 new listings, up by 3.1% year-over-year. • 📉 Active Listings: Total active listings were 16,592, a 7.6% increase from June 2023. • Average Selling Price: • 📊 Overall: $1,164,284, a slight decrease of 1.1% from June 2023. • 🏡 Detached Homes: $1,405,813, down by 2.3%. • 🏘️ Semi-Detached Homes: $1,080,762, a 0.5% increase. • 🏢 Townhouses: $972,360, up by 1.9%. • 🏙️ Condos: $745,231, a minor decrease of 0.4%. • Regional Insights: • City of Toronto: • 📉 Sales: 2,584 homes sold, a 13.7% decline. • 📉 Average Price: $1,177,905, down by 0.8%. • Rest of GTA: • 📉 Sales: 4,882 homes sold, a 8.9% decrease. • 📉 Average Price: $1,156,194, a 1.3% drop. • Home Types Breakdown: • Detached Homes: • 📉 Sales: Decreased by 12.4%. • 📉 Average Price: Down by 2.3%. • Semi-Detached Homes: • 📉 Sales: Declined by 9.8%. • 📈 Average Price: Up by 0.5%. • Townhouses: • 📉 Sales: Reduced by 10.2%. • 📈 Average Price: Increased by 1.9%. • Condominiums: • 📉 Sales: Dropped by 10.9%. • 📉 Average Price: Slight decrease of 0.4%. • Days on Market: • ⏳ Average Days on Market: 19 days, up from 17 days in June 2023. • Months of Inventory: • 📦 Months of Inventory: 2.2 months, indicating a balanced market, compared to 2.0 months last year. Source: June 2024 Toronto Housing Market Charts

The latest Consumer Price Index (CPI) report shows that inflation is easing in the U.S., which could have positive implications for Canadian consumers and realtors. Let’s break down the key points! 📰✨ In June 2024, inflation in the U.S. slowed down more than expected. The Consumer Price Index (CPI), which measures what consumers pay for goods and services, increased by just 0.2% from May and 3% from a year ago. This is a big drop from the peak of 9.1% in June 2022. Core CPI, which excludes food and energy prices due to their volatility, also rose by 0.2% for the month, and 4.8% over the last year. This suggests that the underlying inflation trends are cooling off. Key Factors: • Gas Prices: Lower gas prices contributed to the overall decrease in inflation. • Food Costs: Food prices rose slightly but were more stable compared to previous months. • Housing Costs: Rent and housing costs saw smaller increases, which helped slow down inflation. Federal Reserve officials are closely watching these trends. They have raised interest rates to combat high inflation, and this report might influence their future decisions. What This Means for Canadians: • Lower Import Costs: With lower U.S. inflation, the cost of imported goods might decrease, benefiting Canadian consumers. • Interest Rates: If the U.S. Federal Reserve pauses raising interest rates, it could influence the Bank of Canada’s decisions, impacting Canadian mortgages and loans. • Housing Market: Cooling inflation in the U.S. can lead to more stability in North American markets, providing better conditions for Canadian realtors and homebuyers. In summary, the June 2024 CPI report brings good news as inflation is cooling down, potentially easing financial pressure. Canadian consumers and realtors should keep an eye on these trends for impacts on the housing market and everyday expenses. 🏠💡💵