“Heat and Hangovers” in Toronto Real Estate 2021 Forecast by Toronto Storeys
Mid-way through January, 2021 has passed its prime “Happy New Year, the world is fresh again” territory. As resolution-based behaviour begins to fade, so too does the rose-coloured tint some may have held over their ideas about the year ahead.
It’s high time, then — with a realistic frame-of-mind — to analyze potential housing market trends in Toronto real estate for the next 12 months; President of Realosophy John Pasalis has done just that.
In his Move Smartly Report January 2021, Pasalis delves into the key trends he’s watching in relation to the GTA housing market. And those trends vary steeply, presenting both “heat and hangovers,” depending on which direction he’s looking.
Take the market for single-family houses, for example. This sector of the local real estate scene “is showing alarming bubble-like symptoms,” the report says, which are “reminiscent of what we saw in 2016 and 2017 in the GTA.”