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#Post#: 2951--------------------------------------------------
Free money making website earn up to $300,000.00 on AUTOPILOT!
By: easybread Date: October 11, 2017, 12:52 am
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Demand Is Outpacing Supply for New Homes in Central Florida
Over the past year, the Orlando metro area has been the 10th
most active market for new-construction home sales in the entire
country, according to a recently released report from CoreLogic.
The report adds that 15 percent of the area�s total home sales
are newly built homes. While the increase in development in
Central Florida means more options for home buyers, there are a
number of downsides to the current state of the market. In
addition to rising prices, it�s easier than ever to miss great
opportunities, and competition for new-construction homes in
desirable communities is fiercer than ever.
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Cynthia Barnes Vancouver B.C
New Homes World Market Partner
On 09/27/2017 16:45 EDT | Updated 16 hours ago
25 year old Cynthia Barnes an unemployed mother of two from
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The average price of a resold home in Greater Toronto shot up to
$770,745 in January, according to data released by the city's
real estate board -- an increase of more than $40,000 from
December, and a jump of 22.3 per cent from a year earlier.
Single-family homes rose by $84,000 in price from December to
January in Toronto, to $1.34 million. In the suburban 905
region, they rose $108,000 in a month, to $999,000.
With single-family homes increasingly out of range, homebuyers
are turning to condos. Condo sales in the GTA increased 26.7 per
cent year-over-year in January, compared to increases of 7.8 per
cent and 7.2 per cent for detached homes and townhouses.
Semi-detached home sales were down 5.8 per cent.
Those slower sales are due to a lack of supply, the industry
says.
�We have a shortage of housing supply in the GTA that is
approaching crisis levels,� said Bryan Tuckey, CEO of the
Building Industry and Land Development Association (BILD), last
week.
�Housing is selling as quickly as the industry can bring it to
market and the lack of developable land that is serviced with
infrastructure, excessive red tape, out-of-date zoning and
NIMBYism are hindering our ability to bring more to the market.�
A growing body of evidence suggests some of the hot demand in
Toronto's housing market stems from foreign buyers, investors
and house-flippers. A survey carried out by the Toronto Real
Estate Board (TREB) indicated that about 5 per cent of homes in
Greater Toronto are sold to foreign buyers, a number some
experts say is probably lowballed.
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Regardless of foreign buyers, local homeowners are increasingly
keeping their homes off the market, either out of fear of
searching for a new home in a hot market, or out of hope of
selling for more later.
Jason Mercer, TREB's director of market analysis, said the
number of active listings on the board's MLS System at the end
of January was essentially half of what was reported as
available at the same time last year.
"That statistic, on its own, tells us that there is a serious
supply problem in the GTA,'' he said. "The result will be very
strong price growth for all home types again this year.''
Here is Toronto's housing market, by the numbers.
$1,336,640
� The average price of a single-family home in Toronto
$999,102
� The average price of a single-family home in the suburban 905
region.
$471,409
� The average price of a condo in Toronto.
$379,169
� The average price of a condo in the suburban 905 region.
11.8%
� The percentage increase in home sales, over the past year in
Toronto.
-18.1%
� The percentage decline in new listings in Toronto from January
2016 to January 2017
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