January’s Newsletter: Best Place to Buy a Suit – January Events – New Laws for 2023 – Toronto Real Estate Market 2022: Year in Review
January 16, 2023
Happy New Year and welcome to 2023! It’s not too late to say that, is it?? I hope you had a wonderful holiday season and you’re refreshed to tackle a new year full of changes and opportunities!
Despite the cold, there are plenty of events happening in the city. Read more about that below, plus learn about some new laws and regulations that may affect you, including better protection for condo purchasers. I’ve also got updates on the new Vacancy Tax, Foreign Buyers Ban and The Anti-Flipping Rules.
The numbers are out for December’s home sales and based on my experience in the market, there are no surprises. We continue to see a trend of slower home sales and softening prices. However, there are opportunities in the market for investors, considering rents continue to climb in Toronto, as well as for those with large down payments.
Mark your calendars, the Bank of Canada is set to make another rate announcement on January 25 and then again on March 8. Experts are predicting any further increases could be minimal and they are hopeful that the March announcement could be the last increase for the year.
I’m always happy to chat about the real estate market, so if you’re curious about what’s happening in your neighbourhood, please give me a call!