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Predictions for this year in Mississauga and GTA Real Estate market - these are my observations and predictions for 2014 to 2017 and beyond!

Current latest predictions at this page


This page will give you some of my insights and predictions for the upcoming year.  The advice contained herein is not guaranteed, but will give you an idea of my personal thoughts from my 30+ years experience in real estate. 

More words of wisdom for 2014. Go straight to my 2014 Predictions

read what I said for 2011!



Conclusions that I draw from this and other sources and my predictions for this year and beyond!

These are my observations of the current and future GTA and Mississauga Real Estate Marketplace.

Many continue to predict that the market will drop this year, not many are predicting a "market crash"  

Many have been predicting we are in a bubble in the GTA for about the past 4 years or so.  Certainly the market is overheated.

There are many reasons for this. 

The condo market is the area that I see softening a little over the next couple of year, many new buildings coming on stream and this may create a bit of a glut of condos on the market - prices for condos are already softening.  Once rates begin to rise, probably not until late next year, first time buyers will not be able to buy as much as they are now and the market should adjust somewhat. 

This is what I see for the next 6 months or so

  1. Prices will continue to rise in the next few months due to high demand and low supply.

  2. Rates will remain at about the same where they currently sit for the whole year - prime rate will be no higher than 3.25% by the middle of 2015 at the earliest!

  3. Ownership should remain flat and fewer first time buyers on the market as the rates increase ever so slightly along with more listings thus slower price growth. 
  4. There are considerable opportunities to purchase for long term price growth in some of the outlying areas, such as Brampton, Milton, Burlington and north Oakville.  This would be similar to what we have seen in Mississauga with price increases from the mid 90's to 2010 or so. 
  5. I feel the condominium investor should be very cautious as we may see a pullback in prices which will help stabilize the marketplace. 
  6. Thus, I don't see any "crash" in the marketplace, just a softening of prices, but not at least until the 3rd or 4th quarter this year.

I have been uneasy about the marketplace since about 2002 and we continue to see year over year price increases.  The average price has increased for 17 years in a row, see the graph here and here, this makes me a little uneasy, but the fundamentals of the marketplace and the economy are far different compared to any time in the past.

I hope this helps you with your real estate decisions.  You will have to make your own decision based upon your personal situation and how you feel about the marketplace, I know it's not easy. 

Maybe you want an over the internet evaluation of your home just to give you an idea of your current value.  We can do this with no obligation.  Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?

Mark

Historically, our real estate market in the Mississauga, Brampton and GTA peaks beginning about the end of the March break and ending about the end of April.  See the historical seasonal trends here.  Given the pent-up demand in our marketplace, the fact that listing inventories are down, we could see a shift of the spring market and our market may be very strong in early 2008.  I can see this happening, so if you are thinking of selling in the spring, you may be wise to get on the market earlier rather than later to capitalize on the early market strength.

Mark's Predictions for 2007

 

 

 

My predictions for 2009

So, if you are thinking of selling and buying a homes this year, should you buy or sell first?  I've had many clients purchase before they sell.  I just want you to have all the information so you can make the best decision for yourself and your family.  You may read more about buying or selling first her

I wish you much success, good health and happiness in 2011 and always!  Powered by MarkArgentino

Read more about my real estate market predictions at my blog

Past Issues of TREB Market Watch for Toronto Real Estate

If you would like to discuss issues like this or other questions you may have, please email me at anytime .

Read what I predicted last year at this time!

I hope this helps a little to answer your questions and give you a little insight into my thoughts on 2008.  I will post this on my blog for others to see.  Any comments from you are always welcome and would be appreciated.

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