ACTIVE LISTING REDUCED 56% vs SALES GROWTH INCREASED 3.3%.  

TRREB reported 9,017 sales through TRREB's MLS system in November 2021, up by 3.3% compared to November 2020 during the housing crisis.  It resulted in driving the average selling price high reached $1,163,323.  

• Housing supply challenge remains in the market and the active listings dropped to 6,086, decreased in 55.9% comparing to November 2020.  The sales-to-new listings ratio reached 90% which means the seller in a dominant position in the market.  Obviously it is caused by a housing shortage.  The new listings declined double-digit percentage year-over-year.
• Toronto Inclusionary Zoning - Affordable Housing Policy effective from September 2022 - Please click the link to view the details.  It may have negative impact on housing crisis further.  Good idea but bad plan.
• The condo and townhouse markets, with the lower average selling price, will get more popular when the population growth resumes normal plus the immigrants target at 1.2M by 2023.
• Canada's inflation rate in October 2021 reported 4.7% (please see the attached chart) which directly reduce our buying power over time.  The Time Value of Money concept is important.  Money can grow through investment.  An investment delayed is an opportunity lost. 

The gradual economic recovery was reflected by the rapid sales growth of condo market compared to last year which indicated the first time buyers moving back to the market.  In Markham,  the condo average selling price increased 28.1% year-over-year. It is benefited from York Markham campus opening in 2023, "Tesla comes to Markham" announced by Markham Mayor and the comparatively slow price growth before.

During the past 10 years, the challenges of rapid population growth, inflation rate increased & insufficient housing supply put upwards pressure on prices.  In 2021, the inflation rate increased from 1% of January to 4.7% of October.  The value of your savings is reduced resulting in less buying power.  Money can grow only through investment.  An investment delayed is an opportunity lost.