Two Real Estate Stories in the News for Monday, November 20th, 2017

Hello everyone. How is your weekend?

Here are today's Canadian real estate news headlines.

Are Toronto and Vancouver headed for a housing boom?

The Canadian Real Estate Association released the October home sales numbers last Wednesday. 

The report shows that the home sales and prices are on the rise. "National home prices are up 5 percent on average in October year-over-year and month-over-month sales were up 0.9 percent, even though new listings for the month were down 0.8 percent." 

Benjamin Tal, deputy chief economist at CIBC World Markets forecasts that "Vancouver and Toronto are both headed for a housing boom."

Check here for more details.

The hottest housing market in the world is facing a reckoning

According to Financial Post, the land prices in Toronto area have gotten so high that "developers are struggling to build new homes that people can afford. Buyers are no longer lining up, despite discounts and incentives."

Check here for more details.

Picture: Tim Gouw

Find out what your home is worth here!

Jethro Seymour, Toronto Real Estate Broker.  Search Toronto's live MLS listing here.