Are you not so sure about when you should get into the real estate market in Greater Toronto Area (GTA) and get yourself a good new house? Worry no more because the right time is here with you. September 2022 is the right time that you should put your best foot forward as far as buying a new house in GTA is concerned. Do not continue to wait because the market is set and ready for an investor like you who is keen on putting their money into the right project. The more you keep waiting the more you are prone to lose good opportunities. Get out of your comfort zone and own a nice house in GTA because there are several which await buyers like you. Is September 2022 the right time to buy a new house in GTA? You already have the answer to this question but more reasons that explain why it is so are as follows.
- Decrease in average home prices
The average home prices in Greater Toronto Area (GTA) have decreased over a couple of months. As of July 2022, an estimated 6% decrease was witnessed compared to the average price in June. When compared to peak months like February, it means that house prices have gone down by about 20%. Even though the prices have gone down, they are still up compared to last year. This decrease in the average home prices could mean that some serious buyers might start taking advantage of it and buy homes. You can also be one of them because time waits for no man. As September 2022 is here, this could be the time that you have been waiting for. New construction homes are readily available and you should waste no time but act swiftly and get yourself a good house.
- Collapsed home sales
Just recently, it was noticed that the home sales were collapsing in GTA. A total of 4,912 home sales were realized in GTA in the month of July 2022. This means that there are very many houses listed in the market and the rate at which people buy them has gone down. Home sales have gone down by at least 48% compared to last year. The housing demand is simply drying up. When the demand for housing goes down, it means that the sellers will also be forced to lower the prices of new houses so that they can attract more people or the few who might still be thinking about the prices in the market. Do you want to take advantage of this scenario? You should quickly start looking for a new house to buy because who knows you might land a very pleasing deal that will see you take less out of your pocket. As this is the situation, it means September 2022 is most likely the best month for you to acquire a new construction home for your family. Do not let this chance slip off your fingers. You should now be planning for yourself on matters concerning the process of buying a new house. Get everything ready as you just wait to dive into the market. Time is ripe and you should make this opportunity count.
- Good market appreciation
The market appreciation rate in the Toronto area is in a good position that warranties great returns shortly if you choose to purchase a new house within GTA. This is good news for those who are keen on buying new houses and later selling them when the market price is pretty good. You can be one of them because as it is in September 2022, the real estate market in GTA is not doing badly. Since the market appreciation is doing well, you should not wait for too long to a point that the prices of houses will be out of your reach and that is why September 2022 is the right time for you to buy.
- A good economy
GTA is characterized by a good economy courtesy of Toronto city which has continued to be a very stable and vital city as far as the economy is concerned. With the right economy, you have nothing to worry about when it comes to venturing into a real estate investment. When the economy is good it means that the housing market is more likely to experience fast appreciation. You cannot afford to miss being part of this booming economy. September 2022 seems the right time for you to purchase a new house in GTA. Do not think of wasting this chance because of anything else.
- Toronto’s competitiveness
Toronto is a very competitive city compared to many other cities in the world. It is ranked top in matters of innovation, global competitiveness, and even quality of life. This gives this city the respect and value it deserves on the global map. Being within the Greater Toronto Area (GTA) makes it even better for those who are yearning to own new homes within this area. It is a world-class city now and this means that you cannot miss finding the right quality new construction home you are looking for. Developers of new houses have to keep up with the state of the city. Toronto’s class most probably trickles down to the other areas within the Greater Toronto Area (GTA) and that is why it would be very wise for you to find a way into the real estate market here and get yourself a new house this September. September 2022 is for sure the right time for you to explore the nature of new houses in GTA. If you think it is late or too early then you are very wrong because the time is now and you have to get going.
After seeing the above reasons why September 2022 is the right time to buy a new house in GTA, put everything in place so that you can become one of the homeowners in Toronto as soon as possible. Come and enjoy it here in the best way possible. A good investor does not waste time at all but takes quick action and utilizes every opportunity that comes their way. You have to do exactly that because this is the right time for you.