Gurminder Dham

01/01/2026

Beginning of a new year, new hopes, new dreams and new resolutions. Let’s rewind 2025 and see, did our hopes fulfilled, did our dreams come true and did we meet our resolutions. If we missed something then let’s not regret and make it a point to achieve in 2026. May this year bring you closer to your goals and shower you with love, happiness and prosperity.
I also want to thank all my clients and friends for trusting me and making 2025 successful and I want to assure that I will provide, to the best of my abilities, the best of services to make 2026 successful and productive for you.
🎈🎈🎈🎉🎉 Happy New Year 🎉🎉🎈🎈🎈

12/09/2024

TRREB: GTA Home Sales Up Substantially in November
TORONTO, ONTARIO, December 4, 2024 – Greater Toronto Area (GTA) home sales increased strongly on a year-over-year basis in November 2024. Many buyers benefitted from more affordable market conditions brought about by lower borrowing costs. New listings were also up compared to November 2023, but by a much lesser annual rate. This meant that market conditions tightened, resulting in overall average price growth compared to last year.
“As we approach the end of 2024, I am pleased to report an improvement in housing market conditions. Many home buyers patiently waited on the sidelines for reduced inflation and lower borrowing costs. With selling prices remaining well off their historic peak and monthly mortgage payments trending lower, the stage is set for an accelerating market recovery in 2025,” said Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce.
GTA REALTORS® reported 5,875 home sales through TRREB’s MLS® System in November 2024 – up by 40.1 per cent compared to 4,194 sales reported in November 2023. New listings entered into the MLS® System amounted to 11,592 – up by 6.6 per cent year-over-year. On a seasonally adjusted basis, November sales were up month-over-month compared to October.
The MLS® Home Price Index Composite benchmark was down by 1.2 per cent year-over year in November 2024 – a much lesser annual rate of decline compared to previous months. The average selling price was up by 2.6 per cent compared to November 2023 to $1,106,050. Year-over-year average price growth was greater than that for the HPI Composite benchmark because of a greater weighting of detached home sales compared to last year. On a seasonally adjusted basis, the average selling price edged slightly lower compared to October.
“Market conditions have tightened, particularly for single-family homes. The detached market segment experienced average annual price growth above the rate of inflation, particularly in the City of Toronto. In contrast, the condominium apartment segment continued to experience lower average selling prices compared to a year ago. Condo buyers are benefitting from a lot of choice and therefore negotiating power. This will attract renter households into homeownership as borrowing costs trend lower in the months ahead,” said TRREB Chief Market Analyst Jason Mercer.
While the rental market will remain relatively well-supplied as more renters transition to homeownership, expect rental demand to pick up as population growth remains high. The rental market could strengthen for both tenants and landlords by reducing the backlog of cases at the Landlord and Tenant Board (LTB).
“Reforming the LTB to make it faster and fairer will go a long way to getting more individuals and families into homes they can afford,” said TRREB CEO John DiMichele.
A recent Ipsos public poll for TRREB found that 93 per cent of GTA respondents support the government taking immediate action to reduce the backlog of 53,000 LTB cases as identified in
the most recent Tribunals Ontario Annual Report; 94 per cent agree that a well-functioning LTB is critical to Ontario’s housing market, and a further 89 per cent endorse investments in staffing, technology, and streamlined processes at the LTB to ensure timely resolutions for landlords and tenants.
“The Ipsos poll makes it clear that across all political perspectives, there is a strong mandate for immediate action to reduce the backlog, invest in better processes, and restore confidence and fairness to the rental housing market,” continued DiMichele. The province has started this important work and TRREB is eager to support their efforts by releasing our ten recommendations found in our report Breaking the Backlog: Restoring Fairness and Justice to Ontario’s Landlord and Tenant Board.

10/08/2024

Hello Friends,

As expected, with interest rate cuts, the housing market in Canada has started recovering back to where it should have been in the normal circumstances. We all know that after Covid happened, the economy worldwide went into an abnormal situation and the real estate in Canada was one of that. The interest rates at one point just touched the ground level and at another point sky rocketed, the impact of which was that the economy went to its lowest level and got the home buyers stuck badly.
Finally Bank of Canada took measures to uplift the economy and started bringing the interest rates down. Three consecutive times BoC brought the interest rates down by 25 basis points and the results are showing the recovery of housing market in Canada. Please check the comparable report of TRREB below for September 2023 and 2024 :

TRREB: September Home Sales Improve Over Last Year
TORONTO, ONTARIO, October 3, 2024 – Greater Toronto Area (GTA) home sales increased year-over-year in September. Buyers were starting to take advantage of more affordable market conditions brought about by interest rate cuts and lower home prices.
“As buyers take advantage of changes to mortgage lending guidelines and borrowing costs trend lower, home sales will steadily increase in relation to population growth. With every rate cut, a growing number of GTA households will afford a long-term investment in home ownership, including first-time buyers,” said Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce.
GTA REALTORS® reported 4,996 home sales through TRREB’s MLS® System in September 2024 – up by 8.5 per cent compared to 4,606 sales reported in September 2023. New listings entered into the MLS® System amounted to 18,089 – up by an even greater 10.5 per cent year-over-year. On a seasonally adjusted basis, September sales increased on a monthly basis compared to August, along with new listings.
The MLS® Home Price Index Composite benchmark was down by 4.6 per cent year-over-year in September 2024. The average selling price, at $1,107,291 was down by a lesser one per cent compared to the September 2023 average of $1,118,215. On a seasonally adjusted basis, the average selling price edged up slightly compared to August.
“The annual improvement in September home sales was more than matched by the increase in new listings over the same period. This resulted in a better-supplied market and increased negotiating power for buyers re-entering the market. The ability to negotiate on price, led to moderate year-over-year price declines, particularly in the more affordable condo apartment and townhouse segments, which are popular with first-time buyers,” said TRREB Chief Market Analyst Jason Mercer.
“We are pleased with the positive changes to mortgage lending guidelines announced over the past month. The ability for existing mortgage holders to shop around for the best rate without facing the stress test will result in more affordable renewals. Longer amortization periods and the ability to insure mortgages for purchases over $1 million dollars will give home buyers more options as the GTA housing market recovers. TRREB has long been calling for these changes to give buyers more flexibility as they navigate their home buying journey,” said TRREB CEO John DiMichele.

If you have any questions or concern then feel free to contact me, I will be more than happy to help answering your queries. Contact me at :

416-567-1105
[email protected]

09/24/2024

Hi,
As you must be aware that last week Federal Reserve (USA) slashed the interest rate by 50 basis points, such a positive sign of the economy going the direction it is predicted. And there is a strong indication that in its meeting next month, BoC can also slash its interest rate by 50 basis points. In September BoC already hinted after slashing 25 basis points, that if the economy goes in the same direction, it is moving in, more cuts can be expected in interest rates. And now it is highly anticipated that BoC will slash the interest rate by 50 basis points.
If that happens, then we will see a big boom in the real estate market in Canada and the housing prices will jump substantially. This is a really great time for buyers, waiting to buy a house, either first time buyers or investors. They can buy today with 30-90 days closing and by the time their closing comes in, the interest rates will be down and they get the advantage of lower interest rate as well as lower price. And if they still wait then they could end up paying 10%-15% more for the same house.
Please think seriously about buying your dream house and don't find yourself in a situation where you regret not taking the right decision at the right time. Please contact me for advice, I will be more than happy to assist you. My contact details :
Phone :416-567-1105
Email : [email protected]

09/05/2024

Hi,
As you must know that BoC has reduced the interest rate by another 25 basis points, the third consecutive cut. As the report below indicates, there might be more cuts in October and December, which has changed the real estate market sentiment drastically.
Today the MLS Listings jumped by more than 50%, showing signs of recovery in the real estate market. The movement can be seen far more improved with more buyers coming out who are waiting for a cut in the interest rate and at the same time sellers also expect better prices for their properties. Now, if the buyers wait for another interest rate cut, the sellers will expect more price. So, this is the time because the prices are below par and if the buyers take a step now with 60/90 days closing, they will get the property at low price and at the same time take the advantage of low interest as well. By the time their closing will come, there will be more interest rate cuts and they will get the mortgage at a fairly low interest rate. Just think over it and feel free to contact me, I will be more than happy to assist you. Please check the report below :

Bank of Canada cuts key interest rate again, signals more cuts ahead

The Bank of Canada may adjust the pace of interest rate cuts if warranted, governor Tiff Macklem said after announcing a third consecutive interest rate cut.
The quarter-percentage-point reduction was widely expected by forecasters, given ongoing softness in the economy and easing inflation.
In his opening remarks on Wednesday, governor Tiff Macklem said the central bank’s decision to bring its key lending rate down to 4.25 per cent was motivated once again by continued progress on inflation and the need for growth to pick up again.
While the announcement carried no surprises, the governor signalled a willingness to change the pace of cuts, if circumstances warrant.
“If those upward forces in inflation proved to be stronger than we expected, or if there’s significantly less slack in the economy than we assess, yes, it might be appropriate to slow the pace of declines,” Macklem said.
“On the other hand, if the economy was significantly weaker, if inflation was significantly weaker than we expected, yes, it could be appropriate to take a bigger step, something bigger than 25 basis points.”
Forecasters anticipate that will mean rate cuts in both October and December — the last two decision meetings of the year.

My contact info :
Cell : 416-567-1105
Email : [email protected]

07/25/2024

The Bank of Canada cut its key interest rate to 4.5 per cent on Wednesday, with governor Tiff Macklem saying during a news conference that it would be reasonable to expect further rate cuts if inflation continues to ease.

The cut was widely expected by economists after inflation eased in June. It marked the central bank's second consecutive cut after last month's meeting, when it cut rates for the first time since March 2020.

"If inflation continues to ease broadly in line with our forecast, it is reasonable to expect further cuts in our policy interest rate," Macklem told reporters.

The bank brought key interest rates down by 25 basis points to 4.75 per cent during that June meeting. The rate had previously been held at five per cent since July 2023.

The bank began a long and aggressive cycle of rate hikes in April 2022 to tame persistent inflation.

After a May inflation report showed that the consumer price index had crept up to 2.9 per cent, some analysts had doubts that the Bank would cut rates again in July. But June's 2.7 per cent inflation reading quelled those concerns.

"Inflation trends have been directionally encouraging," even if some categories remain stubbornly elevated, wrote Bank of Montreal economist Benjamin Reitzes in a note.

The bank will make its next interest rate decision on Sept. 4.

11/09/2023

GTA REALTORS® Release October 2023 Stats
Lack of affordability and uncertainty remained issues for many would-be home buyers in the Greater Toronto Area (GTA) in October 2023. As a result, sales edged lower compared to last year. However, selling prices remained higher than last year’s levels.

“Record population growth and a relatively resilient GTA economy have kept the overall demand for housing strong. However, more of that demand has been pointed at the rental market, as high borrowing costs and uncertainty on the direction of interest rates has seen many would-be home buyers remain on the sidelines in the short term. When mortgage rates start trending lower, home sales will pick up quickly,” said TRREB President Paul Baron.

REALTORS® reported 4,646 GTA home sales through TRREB’s MLS® System in October 2023 – down 5.8 per cent compared to October 2022. On a month-over-month seasonally-adjusted basis, sales were also down in comparison to September.

New listings in October 2023 were up noticeably compared to the 12-year low reported in October 2022, but up more modestly compared to the 10-year average for October. New listings, on a seasonally-adjusted basis, edged slightly lower month-over-month compared to September 2023.

The October 2023 MLS® Home Price Index Composite benchmark and the average selling price were both up on year-over-year basis, by 1.4 per cent and 3.5 per cent respectively. On a seasonally adjusted basis, the MLS® HPI Composite benchmark edged lower compared to September 2023 while the average selling price remained at a similar level. Both the MLS® HPI Composite benchmark and average price remained above the cyclical lows experienced at the beginning of 2023.

“Competition between buyers remained strong enough to keep the average selling price above last year’s level in October and above the cyclical lows experienced in the first quarter of this year. The Bank of Canada also noted this resilience in its October statement. However, home prices remain well-below their record peak reached at the beginning of 2022, so lower home prices have mitigated the impact of higher borrowing costs to a certain degree,” said TRREB Chief Market Analyst Jason Mercer.

“In the current environment of extremely high borrowing costs, it is disappointing to see that there has been no relief for uninsured mortgage holders reaching the end of their current term. If these borrowers want to shop around for a more competitive rate, they are still forced to unrealistically qualify at rates approaching eight per cent. Following their most recent round of consultations, the Office of the Superintendent of Financial Institutions should have eliminated this qualification rule for those renewing their mortgages with a different institution,” said TRREB CEO John DiMichele

04/08/2023

TRREB: TIGHT MARKET CONDITIONS PUSH UP COMPETITION IN THE GTA
TORONTO, ONTARIO, April 5, 2023 – Greater Toronto Area (GTA) housing market conditions tightened in March 2023. Sales accounted for an increased share of listings in comparison to March 2022, suggesting that competition between buyers is on the rise. The average sale price was above the average list price for the first time since May 2022.
“As we moved through the first quarter, Toronto Regional Real Estate Board (TRREB) Members were increasingly reporting that competition between buyers was heating up in many GTA neighbourhoods. The most recent statistics bear this out,” said TRREB President Paul Baron. “Recent consumer polling also suggests that demand for ownership housing will continue to recover this year. Look for first-time buyers to lead this recovery, as high average rents move more closely in line with the cost of ownership.”
GTA REALTORS® reported 6,896 sales through TRREB’s MLS® System in March 2023 – down 36.5 per cent compared to March 2022. On a month-over-month basis, actual and seasonally adjusted sales were up. New listings were also down on a year-over-year basis, but by a much greater annual rate. This points to tighter market conditions compared to last year.
“Lower inflation and greater uncertainty in financial markets has resulted in medium-term bond yields to trend lower. This has and will continue to result in lower fixed rate borrowing costs this year. Lower borrowing costs will help from an affordability perspective, especially as tighter market conditions exert upward pressure on selling prices in the second half of 2023,” said TRREB Chief Market Analyst Jason Mercer.
The MLS® Home Price Index composite benchmark was down by 16.2 per cent on a year-over-year basis, but up month-over-month on both an actual and seasonally adjusted basis. Similarly, the average selling price was down by 14.6 per cent year-over-year to $1,108,606. The average selling price was up month-over-month on an actual and seasonally adjusted basis.
“As population growth continues at a record pace on the back of immigration, first-time buying intentions will remain strong. Because the number of homes for sale is expected to remain low, it will also be important to have substantial rental supply available. Unfortunately, this is not something we have at the present time. We need to see a policy focus on bringing more purpose-built rental units on line over the next number of years,” said TRREB CEO John DiMichele

11/15/2022

GTA REALTORS® Release October Stats
Despite the continued housing market transition to a higher borrowing cost environment, the average selling price in the Greater Toronto Area (GTA) found some support near $1.1 million since the late summer. GTA home sales continued to adjust to substantially higher interest rates in October 2022, both on an annual and monthly basis. However, new listings are also down year-over-year and month-over-month. The persistent lack of inventory helps explain why the downward trend in home prices experienced in the spring has flattened over the past three months.

GTA REALTORS® reported 4,961 sales through the Toronto Regional Real Estate Board’s (TRREB) MLS® System in October 2022 – a similar number to September 2022 but down by 49.1 per cent compared to October 2021. Yearover-year sales declines were similar across major market segments.

New listings were down by 11.6 per cent year-over-year and reached an October level not seen since 2010. New listings were down on an annual basis more so for mid-density and high-density home types, which helps to explain why prices have held up better in these categories compared to detached houses.

“With new listings at or near historic lows, a moderate uptick in demand from current levels would result in a noticeable tightening in the resale housing market in short order. Obviously, there is still a lot of short-term economic uncertainty. In the medium-to-long-term, however, the demand for housing will rebound. Public policy initiatives like the recently introduced provincial More Homes Built Faster Act and strong mayor provisions will help ensure we see more homes being built to affordably meet the needs of new households,” said TRREB President Kevin Crigger.

The MLS® Home Price Index (HPI) Composite Benchmark was down by 1.3 per cent year-over-year in October 2022. The average selling price for all home types combined, at $1,089,428, was down by 5.7 per cent compared to October 2021. The monthly trends for both the MLS® HPI Composite and the average selling price have flattened in recent months following steeper declines in the spring and early summer.

“Home prices in the GTA have found support in recent months because price declines in the spring and summer mitigated the impact of higher borrowing costs on average monthly mortgage payments. The Bank of Canada’s most recent messaging suggests that they are reaching the end of their tightening cycle. Bond yields dipped as a result, suggesting that fixed mortgage rates may trend lower moving forward, which would help affordability,” said TRREB Chief Market Analyst Jason Mercer.

06/01/2022

06/01/2022

On this occasion, I would like to thank my clients and friends from the bottom of my heart, for having trust in me to Buy or Sell their house and made me able to reach here, at this point of success. It wouldn't have been possible without your support and help and I want to promise that the trust you have put in me, will just make me more responsible to bring you the best of deals. Thank you all so much again, and I am sure you know how to contact me.....

Cell : 416-567-1105
Email : [email protected]