There are “encouraging” signs for the Greater Toronto Area (GTA) housing market in RE/MAX Canada’s just-released Quarter Century Market Report, the company’s president has said, not least that market fundamentals appeared “very strong” during that 25-year stretch.
Christopher Alexander (pictured top) told Canadian Mortgage Professional that the average yearly price appreciation of just over 7% during that period was similar to that of the previous quarter-century, a development that suggested a strong and robust GTA market.
“I find that very interesting because 7% is the best you can hope for as far as an overall market health appreciation number. Once you get over that 7% mark, you’re into pretty strong upward pressure, and then people get concerned about longevity,” he said.