Daily Market Update

by REP20 Jan 2015
TD says housing boom masking other challenges
CTV has five numbers that may surprise you about the state of real estate in Toronto. A housing boom in the Toronto area is masking the growing challenges to the market, say TD experts, as they've been distracted by a housing boom in the Greater Toronto Area, with resale values increasing steadily over the past 10 years. Read the full story to find out more

House prices continue to fall in Calgary 
The Calgary market is cooling faster hot chocolate in the cold. According to new sales and listing data for the first half of the month have been released and the numbers aren’t pretty. The number of homes trading hands has plunged 37 per cent compared to the first two weeks of January 2014, while the number of active listings surged 64 per percent. Prices have reportedly declined 1.5 per cent. Read the full story here

New website aims to cut commissions
FeeDuck launched an Ontario-wide service last week, a new website that would ostensibly ensure sellers can sell while minimizing the commission they pay to realtors? How do they do it? 
Once a homeowner lists their home with the site, registered real estate agents bid for the right to sell it. After 72 hours, contact info for whichever agent has promised the lowest commission is sent to the seller. Read about what this means for realtors here

Record home prices in Vancouver for 2014
Vancouver set a record high for home prices in 2014, according to Macdonald Realty Group’s compilation of data from two local real estate boards.  There were 199 Metro Vancouver properties that sold last year on the Multiple Listing Service for at least $5-million, breaking the previous high of 148 set in 2013. Read the full story here

Buyer sought lawsuit against agent over condo sale
Don't blame agents if you overpay for real estate, according to a writer in the Montreal Gazette. A co-property buyer who felt her real-estate agent was remiss for not disclosing that the unit sold months earlier for much less failed to obtain compensation from him in Quebec Court. The buyer, Dimitra Panagopoulou, sought $7,000 in small-claims court from her real-estate agent, Alexandre Patricio, saying he hadn’t given her a clear portrait and she overpaid. Read the full story here

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