John Pasalis

Toronto

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Articles

A Year of Modest Sales and Flat Prices for the Toronto Housing Market in 2024

Jan 14, 2025 | movesmartly.com | John Pasalis

As we move into 2025, it’s worth looking back to see how sales, listings and prices in 2024 compared to previous years. The low-rise house and condominium (condo) markets both experienced significant cooling, marked by low sales volumes, yet home prices remained resilient. Sales of low-rise houses, including detached, semi-detached, and townhomes, increased modestly compared to 2023.
Review 2024, Preview 2025 + Trudeau Going, Trump Coming - Toronto & Vancouver Real Estate Jan 2025

Jan 11, 2025 | movesmartly.com | Urmi Desai |John Pasalis

It’s our first roundtable of the year with my co-host John Pasalis in Toronto and Steve Saretsky in Vancouver. This month, John and Steve discuss how the market performed last year and what we can expect in 2025. Plus, when will the preconstruction market slowdown result in price drops and how will the incoming U.S. President Trump’s threats against the Canadian economy and new Conservative government in Canada later this year impact housing?
A Look Back at Toronto’s Housing Market in 2024

Dec 10, 2024 | movesmartly.com | John Pasalis

Toronto Resale Housing Market: A Tale of Two Halves in 2024As seen in the Move Smartly December 2024 Market Report - Read Full Report HereToronto's resale housing market in 2024 was a year marked by sharp contrasts. The year began on a competitive note, particularly in the low-rise housing segment, where inventory levels fell below two months—a clear indicator of strong demand and limited supply.
Reviving an Old Idea to Solve Modern Housing Challenges - Land Value Tax

Dec 6, 2024 | movesmartly.com | John Pasalis

Land Value Taxes (LVT) are far from a new concept. This idea dates back to economic giants like Adam Smith and David Ricardo. Still, their popularity surged after Henry George's seminal work, Progress and Poverty, which made a compelling case for taxing the unimproved value of land as a means to curb inequality and promote economic fairness. While LVT has seen renewed interest in modern policy discussions, recent conversations highlight some significant shortcomings in its practical implementation.
Mixed Signals Amidst Sales Growth for Toronto's Housing Market

Dec 5, 2024 | movesmartly.com | John Pasalis

Toronto's housing market in November 2024 painted a complex picture, balancing robust sales activity against lingering sluggishness due to high inventory levels. Here's a closer look at the key trends:Strong Sales Growth but Persistent SluggishnessHouse and condo sales surged year-over-year, reflecting increased buyer activity spurred by lower borrowing costs. However, the relatively high number of active listings continued to dampen market momentum.
How Canada’s Immigration Cuts Will Impact Housing

Nov 23, 2024 | movesmartly.com | John Pasalis

The Liberal Federal Government continues to make a sharp policy turn in greatly reducing Canada's immigration numbers - how will it impact our housing market? Last month Canada’s federal government announced that they would be reducing their immigration targets from 500,000 to 395,000 in 2025. This follows an announcement earlier this year that they planned to reduce the number of non-permanent residents in Canada from 7% of the population to 5% by 2026.
Canada’s New Condo Sales Hangover

Nov 13, 2024 | movesmartly.com | John Pasalis

As pre-construction condo sales flatline - what factor is really to blame? Pre-construction condo sales are falling off a cliff and will likely remain near historic lows for quite some time. As housing experts scramble to explain why pre-construction condo sales have crashed and what needs to be done to drive more sales, they have zeroed in on one thing - the taxes and fees levied on new home sales and developers are now the reason nobody can afford to buy a new condo, according to this clamour.
Toronto’s Housing Market Turns a Corner as Sales Surge

Nov 8, 2024 | movesmartly.com | John Pasalis

After six sluggish months, Toronto’s housing market finally turned a corner as sales surged 45% year over year for low-rise homes and 32% for condominiums in October. It’s worth noting that the strong growth in sales is partly a function of the fact that sales volumes last year were close to 20-year lows. But more important than the increase in sales is that sales grew faster than new listings, which means that inventory levels are falling.
What New Research Says About How Investors Impact Home Prices

Oct 20, 2024 | movesmartly.com | John Pasalis

This week, Urmi talks to John about how his own research into how investors impact the housing market as he completes his own doctoral degree on the same. This week our episode is another session of “Move Smartly Ideas” - our deeper dive into housing economic and policy issues. How to watch?
Toronto’s Fall Housing Market Remains Cool As Rate Cuts Not As Certain

Oct 9, 2024 | movesmartly.com | John Pasalis

While the Toronto area experienced an unseasonably warm September this year, the housing market remained cool. Sales are up modestly over last year, but the overall dynamics remain the same — homes and condos are seeing far fewer showings from buyers when compared to six months ago, and new listing volumes continue to grow faster than sales which is contributing to inventory levels increasing.