Fred Tam Real Estate

Fred Tam Real Estate Real Estate Broker representing sellers, buyers and investors, providing exceptional end-to-end serv GTA Real Estate Services and Market Updates

05/03/2026

Achievement unlocked.

10/26/2024

A few months ago, we had 1,700 condo listings in downtown Toronto. Now there's only 1,480, a drop by 13% in available condo inventory.

A lack of housing supply can have several significant impacts on the real estate market and broader economy.

When supply is limited and demand remains steady or increases, home prices tend to rise as buyers compete for fewer available properties. This is a basic economic principle of supply and demand. As prices rise, homes become less affordable for many potential buyers, particularly first-time buyers and those with lower incomes.

Limited supply in urban centers can push development and population growth to outlying areas, leading to urban sprawl. This can increase infrastructure costs and environmental impacts.



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10/25/2024

Timing the real estate market, or attempting to buy or sell property based on predictions of future market conditions, is generally considered risky.

Waiting for the "perfect" time to buy or sell can result in missed opportunities. For buyers, this could mean paying rent longer than necessary, and for sellers, it could mean holding onto a property that could have been sold for a profit earlier. In a market with rising prices, waiting can mean that prices continue to increase, making properties less affordable over time. This is especially pertinent in high-demand areas where prices consistently trend upward.

Real estate markets are influenced by numerous factors including economic conditions, interest rates, government policies, and global events. Predicting these factors accurately is difficult, and unforeseen events (like economic downturns or pandemics) can drastically alter market conditions. The real estate market can be volatile, with rapid changes in prices and demand. This volatility makes it challenging to time the market correctly and benefit from price swings.

The real estate market can shift rapidly due to changes in interest rates, economic policies, or local development projects. These shifts can be difficult to predict and may not align with the timing strategy of individual buyers or sellers. Often, by the time market trends are recognized, the optimal window for buying or selling has passed. The market may react to new data faster than an individual can make a transaction.



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10/24/2024

A balanced market is one that doesn't favour sellers nor buyers.

Home prices generally remain stable, with neither sharp increases nor decreases. Properties typically sell within a normal timeframe, without being excessively fast or slow.

Buyers and sellers have roughly the same level of bargaining power, and negotiations are usually straightforward. There's neither intense bidding wars (common in a seller's market) nor an excess of unsold properties (typical in a buyer’s market).

The number of homes for sale is balanced with the number of buyers looking to purchase, preventing any significant shortages or surpluses.



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10/23/2024

The most recent announcement from the Bank of Canada in October 2024 indicated a significant policy move: a half-percentage-point reduction in the key interest rate. This was driven by inflation falling to 1.6%, which is below the central bank's target of 2%.

Economists now expect a series of rate cuts, with another large reduction likely in December. This strategy aims to stimulate the economy, which has been underperforming, and to address a weakening labour market, as unemployment has increased

In 2024, higher interest rates have caused a slowdown in home sales in some markets, particularly in places like Toronto, Vancouver, and surrounding areas. However, a true buyer’s market is only present in some pockets of the country where inventory exceeds demand, and prices have stagnated or decreased. Nationally, a high demand for housing, particularly in major urban centers, still persists, partially due to strong immigration and a limited housing supply.

If interest rates continue to drop, this could potentially transition more regions into a buyer’s market, as affordability improves for homebuyers.



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Toronto, ON
M3B0A7

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