Today is June 19 2017. This is a Kitchener Waterloo Real Estate News Update.

Tarion Warranty improves consumer protection

Tarion is working to cover condo conversions and upgrade its deposit protection. Tarion already protects deposits and offers compensation for delays in closings and of course protect consumers against builders using poor materials and supplying lousy workmanship.

Down is the new up

According to the Canadian Real Estate Association national home sales dropped 6.2% month-over-month from April to May. And In Toronto the market experienced a 25.3% drop. But that does not mean prices are down. The national average home price increased 4.3% year-over-year last month and newly listed homes increased 0.3% month-over-month.

Housing forecast updated

In Ontario, evidence suggests that housing market sentiment has cooled following housing policy changes made by the provincial government in April. Trends for the province are softening, with home sales and price growth in the Greater Golden Horseshoe region slowing. KW is considered to be part of the Greater Golden Horseshoe region along with every other city that matters.

Surprising stats behind the surge

7% of homes were bought and then again sold within the year. Domestic speculators and fewer foreign buyers than the media likes to report. Those are some of the findings out of Toronto.

Three degrees of separation.

It’s the near-Toronto affluent market that saw a bigly drop in prices last month. Prices are way down in Oakville Milton for the month. As far as KW is concerned, it’s all connected and its all out of Toronto by a few degrees of separation

Wishing for a crash?

It’s not all jealously, envy and social media griping. Missing out on home-ownership often means missing out on housing stability and security. But anyone waiting for a crash could find themselves out of a job when (and if) it happens