Feng Shui: Front Door

• Enhance the front door area with a lovely plant and lights on both sides to attract positive energy.

• The front door, known as the “mouth of qi,” is crucial for welcoming energy and opportunities into your home.

• It sets the tone for visitors and your experience of the space.

Feng Shui: Hallway

• Hallways symbolize opportunities. Keep them clutter-free with coats and shoes in a closet, and add a mirror and fresh flowers to uplift the energy.

Feng Shui: Kitchen

• The kitchen is vital in feng shui, representing nourishment and gathering.

• The stove’s placement is essential for success and control in your life and career.

• Use a Quartz crystal in the refrigerator for enhanced nourishment.

• Remove broken items as they can bring negative energy.

Feng Shui: Living Room

• Ensure furniture is proportionate and does not block doors.

• Use lamps strategically to activate wealth energy.

• Open windows for nine minutes to clear the space.

Feng Shui: Dining Room

• Place a mirror on the wall and fresh flowers on the table to optimize dining space energy.

Feng Shui: Bedroom

• Consider the position of mirrors for a restful sleep.

• Choose light neutral colours, solid headboards, and bedside tables for support and romance.
  
  

Feng Shui: Bathroom

• Keep the bathroom clean with the lid down and introduce plants to prevent wealth drainage.

Feng Shui: Garden

• Maintain the front garden for future prospects and the back garden for health and wealth.

• Well-kept boundaries provide support for the occupants.

We are back at it again with a review of the Market Watch from February 2024.

Greater Toronto Area (GTA) home sales and new listings were up on an annual and monthly basis in February 2024. Selling prices also edged upward compared to a year earlier. Population growth and a resilient regional economy continued to support the overall demand for housing. Higher borrowing costs kept home sales below the February sales record reached in 2021.

“We have recently seen a resurgence in sales activity compared to last year. The market assumption is that the Bank of Canada has finished hiking rates. Consumers are now anticipating rate cuts in the near future. A growing number of homebuyers have also come to terms with elevated mortgage rates over the past two years. To minimize higher monthly payments, some buyers have likely saved up a larger down payment, chosen to purchase a less-expensive home type and/or looked to a different location in the GTA,” said TRREB President Jennifer Pearce.

REALTORS® reported 5,607 GTA home sales through TRREB’s MLS® System in February 2024 – an increase of 17.9 per cent compared to February 2023. Even after accounting for the leap year effect, sales were up by 12.3 per cent yearover-year. New listings were up by an even greater annual rate than sales in February, pointing to increased choice for buyers. On a seasonally adjusted month-over-month basis, February sales were lower following two consecutive monthly increases while new listings were flat. Monthly figures can be somewhat volatile, especially when the market is approaching a transition point.

Home selling prices in February 2024 remained similar to February 2023. The MLS® Home Price Index Composite benchmark edged up by 0.4 per cent. The average selling price of $1,108,720 increased by a modest 1.1 per cent. On a seasonally-adjusted monthly basis, both the MLS® HPI Composite and the average selling price edged upward.

“As we move through 2024, an increasing number of buyers will re-enter the market with adjusted housing preferences to account for higher borrowing costs. In the second half of the year, lower interest rates will further boost demand for ownership housing. First-time buying activity will also be a contributing factor, as many renters look to trade high monthly rents for a long-term investment in which they can live and build equity,” said TRREB Chief Market Analyst Jason Mercer.

“Population growth has been at a record pace and with the anticipated lower borrowing costs, the demand for housing – both ownership and rental – will also increase over the next two years. Unaffordable housing not only has a financial impact but also a social impact. Recent research conducted for TRREB by CANCEA in our 2024 Market Outlook and Year in Review report underscores the negative impact of unaffordable housing on peoples’ mental health and life satisfaction. It’s comforting to see that there has been some real building happening in the GTA and that the provincial government is rewarding those municipalities that are working to eliminate the red tape and meet those homeownership needs,” said TRREB CEO John DiMichele.

If you have any questions or to better understand what is happening in your neighbourhood, please contact us.

Home sales were up in January 2024 in comparison to January 2023. This annual increase came as some homebuyers started to benefit from lower borrowing costs associated with fixed-rate mortgage products. New listings were also up year-over-year but at a lesser annual rate compared to sales. The resulting tighter market conditions when compared to the same period a year earlier, potentially point toward renewed price growth as we move into the spring market.

“We had a positive start to 2024. The Bank of Canada expects the rate of inflation to recede as we move through the year. This would support lower interest rates which would bolster home buyers’ confidence to move back into the market. First-time buyers currently facing high average rents would benefit from lower mortgage rates, making the move to homeownership more affordable,” said TRREB President Jennifer Pearce.

“Once the Bank of Canada starts cutting its policy rate, likely in the second half of 2024, expect home sales to pick up even further. There will be more competition between buyers in 2024 as demand picks up and the supply of listings remains constrained. The result will be upward pressure on selling prices over the next two years,” said TRREB Chief Market Analyst Jason Mercer.

Planing to Buy or Sell in 2024, give us a call so we can go over your goals to build the best strategy to assist you with your Real Estate needs!

If you have any questions or to better understand what is happening in your neighbourhood, please contact us.