Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 530 units in April 2022. This was a significant reduction of 34% from the same period in 2021.

Residential non-waterfront sales were 5% above the five-year average and 1.5% below the 10-year average for the month of April.

On a year-to-date basis, residential non-waterfront sales totaled 1,819 units over the first four months of the year. This was a decrease of 25.1% from the same period in 2021.

Sales of waterfront properties numbered 104 units in April 2022. This was a substantial reduction of 58.7% from the same period in 2021.

Waterfront sales were 17.5% below the five-year average and 22.3% below the 10-year average for the month of April.

On a year-to-date basis, waterfront sales totaled 322 units over the first four months of the year. This was a sharp decrease of 50.1% from the same period in 2021.

“Sales for both waterfront and non-waterfront properties came in well below last year’s record levels and were hovering around the average for this time of year, with activity for non-waterfront homes faring slightly better between the two,” said Chuck Murney, President of the Lakelands Association of REALTORS®. “Supply levels are still at historical lows, which means that if we see a continued moderation in sales activity there is ample room for the market to absorb a welcome increase in available listings. Prices are still trending near all-time highs but have begun to show signs of topping out.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $745,500 in April 2022, increasing by 21.4% compared to April 2021.

The benchmark price for single-family homes was $761,600, a gain of 21.4% on a year-over-year basis in April. By comparison, the benchmark price for townhouse/row units was $656,900, up by 23.8% compared to a year earlier, while the benchmark apartment price was $594,400, a large increase of 34.8% from year-ago levels.

The median price for residential non-waterfront property sales in April 2022 was $750,000, up by 17.2% from April 2021.

The more comprehensive year-to-date residential non-waterfront median price was $800,000, an increase of 23.1% from the first four months of 2021.

The median price for waterfront property sales in April 2022 was $1,202,500, up by 26.4% from April 2021.

The more comprehensive year-to-date waterfront median price was $1,175,000, a large increase of 30.6% from the first four months of 2021.

The total dollar value of all residential non-waterfront sales in April 2022 was $458 million, a big reduction of 20.7% from the same month in 2021.

The total dollar value of all waterfront sales in April 2022 was $162.7 million, falling 43.1% from the same month in 2021.

Lakelands West: The Blue Mountains, Clearview, Collingwood, Grey Highlands, Meaford, Wasaga Beach
Lakelands Central: Midland, Orillia, Oro-Medonte, Penetanguishene, Ramara, Springwater, Tay, Tiny
Lakelands North: Algonquin Highlands, The Archipelago, Bracebridge, Dysart et al, Georgian Bay Township, Gravenhurst, Highlands East, Huntsville, Lake of Bays, Minden, Muskoka Lakes, Parry Sound, Severn

The Lakelands Association of REALTORS® represents more than 1,600 REALTORS®. There are several major geographical areas within the Association’s boundaries, including parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford, Grey Highlands. As well as Towns of Midland and Penetanguishene, the Townships of Tay, and Tiny. In the heart of Canada’s Cottage Country; Parry Sound, Muskoka, Haliburton, Orillia, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, and Lake of Bays. Most within our geographical area are located less than a two-hour drive north of Toronto. Each offering a unique blend of properties ranging from residential homes to smaller towns and the rural areas in-between, as well as a mix of waterfront homes/cottages on the many rivers and lakes that range from the smaller entry-level properties to the prestigious.

REALTOR® is a trademark that identifies real estate professionals who are members of The Canadian Real Estate Association (CREA) and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 593 units in March 2022. This was a large decrease of 26.9% from the same period in 2021.

Residential non-waterfront sales were 9.6% above the five-year average and 18.6% above the 10-year average for the month of March.

On a year-to-date basis, residential non-waterfront sales totaled 1,287 units over the first three months of the year declining 20.9% from the same period in 2021.

Sales of waterfront properties numbered 93 units in March 2022. This was a substantial decline of 55.3% from the same period in 2021.

Waterfront sales were 11.4% below the five-year average and 1% above the 10-year average for the month of March.
On a year-to-date basis, waterfront sales totaled 220 units over the first three months of the year. This was notably down 44% from the same period in 2021.

“Sales of both non-waterfront and waterfront properties were down compared to last year’s astronomical records but still posted strong showings in March. Activity for non-waterfront homes fared slightly better, holding up overall sales at the third best March in history,” said Chuck Murney, President of the Lakelands Association of REALTORS®. “For housing markets of both types of homes the missing ingredient is still new supply, which is experiencing a more severe shortage for waterfront properties between the two. We’ll have to wait and see how many new listings come to market in the spring, but it’s going to take a substantial influx to start tilting the market back towards balanced territory and cool off the strong double-digit price growth we’re seeing now.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $738,600 in March 2022, an increase of 26.1% compared to March 2021.

The benchmark price for single-family homes was $757,200, a sizable gain of 26.1% on a year-over-year basis in March. By comparison, the benchmark price for townhouse/row units was $661,700, a significant gain of 36.3% compared to a year earlier, while the benchmark apartment price was $551,600, an advance of 31.1% from year-ago levels.

The median price for residential non-waterfront property sales in March 2022 was $800,000, increasing by 22.3% from March 2021.

The more comprehensive year-to-date residential non-waterfront median price was $820,000, a gain of 26.2% from the first three months of 2021.

The median price for waterfront property sales in March 2022 was $1,157,000, a significant gain of 32.6% from March 2021.

The more comprehensive year-to-date waterfront median price was $1,153,500, an advance of 31.8% from the first three months of 2021.

The total dollar value of all residential non-waterfront sales in March 2022 was $541.9 million, down by 10.2% from the same month in 2021.

The total dollar value of all waterfront sales in March 2022 was $119.9 million, a substantial decline of 47% from the same month in 2021.

The Lakelands Association of REALTORS® represents more than 1,550 REALTORS®. There are several major geographical areas within the Association’s boundaries, including parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford, Grey Highlands. As well as Towns of Midland and Penetanguishene, the Townships of Tay, and Tiny. In the heart of Canada’s Cottage Country; Parry Sound, Muskoka, Haliburton, Orillia, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, and Lake of Bays. Most within our geographical area are located less than a two-hour drive north of Toronto. Each offering a unique blend of properties ranging from residential homes to smaller towns and the rural areas in-between, as well as a mix of waterfront homes/cottages on the many rivers and lakes that range from the smaller entry-level properties to the prestigious.

REALTOR® is a trademark that identifies real estate professionals who are members of The Canadian Real Estate Association (CREA) and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 408 units in February 2022. This was a large decline of 17.6% from the same period in 2021.

Residential non-waterfront sales were 8.5% above the five-year average and 15.9% above the 10-year average for the month of February.

On a year-to-date basis, residential non-waterfront sales totaled 693 units over the first two months of the year. This was a substantial decline of 15.1% from the same period in 2021.

Sales of waterfront properties numbered 76 units in February 2022. This was a large decline of 26.9% from the same period in 2021.

Waterfront sales were 24.2% above the five-year average and 44.2% above the 10-year average for the month of February.

On a year-to-date basis, waterfront sales totaled 127 units over the first two months of the year. This was a substantial reduction of 31.4% from the same period in 2021.

“Overall sales activity came in at the second-best February on record, with non-waterfront and waterfront properties both posting solid figures. Surprisingly, it was the waterfront segment of the market that was more resilient between the two compared to last year,” said Chuck Murney, President of the Lakelands Association of REALTORS®. “Prices for both property types remain at record highs while the time spent on market for sold listings remains near record lows. With overall inventories also trending at record lows amid strong demand for homes in the Lakelands region it’s no wonder that we’re seeing those trends play out.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $705,500 in February 2022, was a sizable gain of 28.7% compared to February 2021.

The benchmark price for single-family homes was $725,500, increasing by 29.2% on a year-over-year basis in February. By comparison, the benchmark price for townhouse/row units was $600,900, an advance of 33.2% compared to a year earlier, while the benchmark apartment price was $513,900, up by 29.5% from year-ago levels.

The median price for residential non-waterfront property sales in February 2022 was a record $865,000, an advance of 32.1% from February 2021.

The more comprehensive year-to-date residential non-waterfront median price was $840,000, up by 29.2% from the first two months of 2021.

The median price for waterfront property sales in February 2022 was a record $1,180,604, an advance of 31.6% from February 2021.

The more comprehensive year-to-date waterfront median price was $1,150,000, up sharply by 30.6% from the first two months of 2021.

The total dollar value of all residential non-waterfront sales in February 2022 was $408.9 million, an increase of 15.5% from the same month in 2021. This was also a new record for the month of February.

The total dollar value of all waterfront sales in February 2022 was $104 million, a big reduction of 10% from the same month in 2021.

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The Lakelands Association of REALTORS® represents more than 1,570 REALTORS®. There are several major geographical areas within the Association’s boundaries, including parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford, Grey Highlands. As well as Towns of Midland and Penetanguishene, the Townships of Tay, and Tiny. In the heart of Canada’s Cottage Country; Parry Sound, Muskoka, Haliburton, Orillia, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, and Lake of Bays. Most within our geographical area are located less than a two-hour drive north of Toronto. Each offering a unique blend of properties ranging from residential homes to smaller towns and the rural areas in-between, as well as a mix of waterfront homes/cottages on the many rivers and lakes that range from the smaller entry-level properties to the prestigious.

REALTOR® is a trademark that identifies real estate professionals who are members of The Canadian Real Estate Association (CREA) and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 280 units in January 2022. This was a substantial decline of 12.8% from the same period in 2021.

Residential non-waterfront sales were 1.3% above the five-year average and 8.4% above the 10-year average for the month of January.

Sales of waterfront properties numbered 53 units in January 2022. This was a substantial reduction of 34.6% from the same period in 2021.

Waterfront sales were 16.2% above the five-year average and 20.7% above the 10-year average for the month of January.

“Despite an ever-intensifying supply shortage, sales of waterfront and non-waterfront homes still managed to come in above typical levels in January,” said Chuck Murney, President of the Lakelands Association of REALTORS®. “New supply coming onto the market just isn’t enough to keep up with current levels of demand, which has drawn overall inventories down to their lowest levels on record. Given the historical tightness in our market it’s no surprise that prices are posting 30% year-over-year gains and rising to unprecedented heights.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $675,700 in January 2022, up sharply by 32% compared to January 2021.

The benchmark price for single-family homes was $692,500, a substantial increase of 32.4% on a year-over-year basis in January. By comparison, the benchmark price for townhouse/row units was $589,500, a jump of 35.2% compared to a year earlier, while the benchmark apartment price was $512,400, a substantial gain of 31.5% from year-ago levels.

The median price for residential non-waterfront property sales in January 2022 was a record $807,500, up sharply by 30.2% from January 2021.

The median price for waterfront property sales in January 2022 was a record $1,150,000, up sharply by 33.7% from January 2021.
The total dollar value of all residential non-waterfront sales in January 2022 was $262 million, a sizable gain of 13.3% from the same month in 2021. This was also a new record for the month of January.

The total dollar value of all waterfront sales in January 2022 was $82.1 million, falling by 3.3% from the same month in 2021.

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The Lakelands Association of REALTORS® represents more than 1,550 REALTORS®. There are several major geographical areas within the Association’s boundaries, including parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford, Grey Highlands. As well as Towns of Midland and Penetanguishene, the Townships of Tay, and Tiny. In the heart of Canada’s Cottage Country; Parry Sound, Muskoka, Haliburton, Orillia, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, and Lake of Bays. Most within our geographical area are located less than a two-hour drive north of Toronto. Each offers a unique blend of properties ranging from residential homes to smaller towns and the rural areas in-between, as well as a mix of waterfront homes/cottages on the many rivers and lakes that range from the smaller entry-level properties to the prestigious.

REALTOR® is a trademark that identifies real estate professionals who are members of The Canadian Real Estate Association (CREA) and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.

The Lakelands Association of REALTORS® (The Lakelands) continued its ongoing tradition of supporting local charities by contributing monthly to the Ontario REALTORS Care® Foundation.

The Ontario REALTORS Care® Foundation acts on behalf of Ontario REALTORS® in funding shelter-related charities across the province. Shelter is defined as a refuge, haven, or protection that provides or improves quality of life from hunger, the elements, physical/psychological abuse, disabilities, and illness.

Our local charities are especially stretched due to the impacts of the pandemic, therefore The Lakelands, on behalf of their REALTOR® members, are pleased to provide support on an ongoing basis. It’s worth noting that the grants provided by the Ontario REALTORS® Care Foundation in 2021 reflect the contributions made by REALTORS® before The Lakelands and the Southern Georgian Bay Association of REALTORS® (SGBAR) merged in October 2021.

With that said, the former Lakelands has presented cheques in the amount of $5,341 to each of the following eligible 2021 recipients:

• Hospice Muskoka in Port Carling: providing compassionate support to individuals and their loved ones of all ages and backgrounds, who are coping with end-of-life issues and bereavement.
• Mariposa House Hospice in Severn: dedicated hospice team offers 24-hour specialized end-of-life palliative care in a peaceful, home-like setting while welcoming and supporting family and friends.
• Parry Sound Native Friendship Centre in Parry Sound: mandated to serve the needs of urban Indigenous people by providing culturally appropriate services in urban communities.
• YWCA H.E.R.S- Haliburton Emergency Rural Safe Space in Minden: providing a unique safe space within Haliburton County so women and their children can move away from the abusive situation in their home, without leaving their support systems, jobs and schools, families, and friends behind.

And former SGBAR has presented cheques in the amount of $2,486 to each of the following eligible 2021 recipients:

• My Friend’s House in Collingwood: A safe haven for abused women and their children.
• Home Horizon in Collingwood: bridging the critical gap between emergency shelter and independent living – to transform the lives of youth at risk of homelessness by providing them with the opportunity to rebuild their lives and achieve their full potential.
• Shelter Nowin Midland: works to empower individuals and families experiencing homelessness to improve the quality of their lives through individualized support and transitional housing.
• Huronia Transition Homes, The Rosewood Shelter in Midland: committed to education and advocacy as a means to end violence, and provide shelter, counselling and support to women identified individuals and their children who have experienced abuse.

The now merged association will continue with this ongoing tradition and commitment to help those in need in our communities.

To donate to the Ontario REALTORS Care® Foundation today, visit www.realtorscareontario.ca.

About The Lakelands: The Lakelands Association of REALTORS^® represents more than 1,550 REALTORS^®. There are several major geographical areas within the Association’s boundaries, including parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford, Grey Highlands. As well as Towns of Midland and Penetanguishene, the Townships of Tay, and Tiny. In the heart of Canada’s Cottage Country; Parry Sound, Muskoka, Haliburton, Orillia, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, and Lake of Bays. Most within our geographical area are located less than a two-hour drive north of Toronto. Each offers a unique blend of properties ranging from residential homes to smaller towns and the rural areas in-between, as well as a mix of waterfront homes/cottages on the many rivers and lakes that range from the smaller entry-level properties to the prestigious.

About the Ontario REALTORS Care® Foundation: The Ontario REALTORS Care® Foundation,
formerly the Ontario Real Estate Association (OREA) Foundation was established in 1967. The Foundation supports shelter-based charitable organizations across Ontario, making a difference in the lives of people and communities where REALTORS® live and conduct business.

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 314 units in December 2021. This was a moderate decrease of 9.8% from the same period in 2020.

Residential non-waterfront sales were 13.4% above the five-year average and 21.3% above the 10-year average for the month of December.

On an annual basis, residential non-waterfront sales totaled a record 7,065 units over the course of 2021. This increased by 3% from the same period in 2020.

Sales of waterfront properties numbered 51 units in December 2021. This was a big decline of 34.6% from the same period in 2020.
Waterfront sales were 1.6% above the five-year average and 1.8% above the 10-year average for the month of December.

On an annual basis, waterfront sales totaled 2,173 units over the course of 2021. This decreased by 5.2% from the same period in 2020.

“Real estate market activity in 2021 was nothing short of remarkable considering the highs we saw in 2020.” said Chuck Murney, President of the Lakelands Association of REALTORS®. “MLS® waterfront home sales cooled slightly but were still close to what we would expect in a typical December, while non-waterfront properties were still well above average for this time of year. In both cases the number of newly listed properties were unable to keep pace with the number of sales. Subsequently, overall inventory fell in both categories and were sitting at new record lows. The lack of supply combined with the current level of demand drove average price in both waterfront and non-waterfront properties to new all-time highs in December. As a whole, market balance is still firmly in favour of sellers and without an influx of new listings, it is reasonable to expect that the current market conditions will continue well into the first quarter of 2022. For more detailed information about your individual communities, please refer to the Lakelands Residential Market Activity Report available through your local REALTOR®.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $644,300 in December 2021, up sharply by 32.6% compared to December 2020.

The benchmark price for single-family homes was $659,500, a substantial increase of 33.2% on a year-over-year basis in December. By comparison, the benchmark price for townhouse/row units was $570,900, a jump of 34.4% compared to a year earlier, while the benchmark apartment price was $490,400, increasing by 27.9% from year-ago levels.

The median price for residential non-waterfront property sales in December 2021 was a record $704,500, a gain of 25.7% from December 2020.

The more comprehensive annual residential non-waterfront median price was $652,500, up sharply by 31.8% from all of 2020.
The median price for waterfront property sales in December 2021 was a record $1,050,000, a gain of 19.8% from December 2020.
The more comprehensive annual waterfront median price was $913,000, up by 29.7% from all of 2020.

The total dollar value of all residential non-waterfront sales in December 2021 was $263.8 million, an increase of 15.4% from the same month in 2020. This was also a new record for the month of December.

The total dollar value of all waterfront sales in December 2021 was $67.7 million, a big decline of 31.2% from the same month in 2020.

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The Lakelands Association of REALTORS® represents more than 1,550 REALTORS®. There are several major geographical areas within the Association’s boundaries, including parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford, Grey Highlands. As well as Towns of Midland and Penetanguishene, the Townships of Tay, and Tiny. In the heart of Canada’s Cottage Country; Parry Sound, Muskoka, Haliburton, Orillia, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, and Lake of Bays. Most within our geographical area are located less than a two-hour drive north of Toronto. Each offering a unique blend of properties ranging from residential homes to smaller towns and the rural areas in-between, as well as a mix of waterfront homes/cottages on the many rivers and lakes that range from the smaller entry-level properties to the prestigious.

REALTOR® is a trademark that identifies real estate professionals who are members of The Canadian Real Estate Association (CREA) and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totalled 492 units in November 2021, this was down by 10.2% from the record achieved in 2020. For perspective, residential non-waterfront sales were 9% above the five-year average and 18.8% above the 10-year average for the month of November.

On a year-to-date basis, residential non-waterfront sales totaled a record 6,754 units over the first 11 months of the year. This was a minor increase of 3.7% from the same period in 2020.

Sales of waterfront properties for the Lakelands region numbered 101 units in November 2021, down sharply by 33.1% from the same period in 2020 but more in line with historical averages for the month. Waterfront sales were 5.4% below the five-year average and 1% above the 10-year average for the month of November.

On a year-to-date basis, waterfront sales totalled 2,124 units over the first 11 months of the year. This was a slight decrease of 4.1% from the record breaking period in 2020.
“We are beginning to see diverging trends in our market between non-waterfront residential activity and waterfront properties. Non-waterfront activity is still going strong and posted the second best November on record, while waterfront sales are back down to more normal seasonal levels,” said Chuck Murney, President of the Lakelands Association of REALTORS®. “Trends in prices are also on divergent paths, as median price levels continue to rise to new records for non-waterfront home sales while median prices have turned a corner and are edging off their highs for waterfront homes. Supply levels for both types of properties are still trending at their lowest on record.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $632,300 in November 2021, an advance of 31.4% compared to November 2020.

The benchmark price for single-family homes jumped to $646,000, up sharply by 31.6% on a year-over-year basis in November. By comparison, the benchmark price for townhouse/row units hit $584,300, a substantial increase of 40.6% compared to a year earlier, while the benchmark apartment price was $481,600, a sizeable gain of 26.8% from year-ago levels.

The median price for residential non-waterfront property sales in November 2021 was a record $701,000, a jump of 31% from November 2020. The more comprehensive year-to-date residential non-waterfront median price was $651,000, a substantial gain of 32.3% from the first 11 months of 2020. The median price for waterfront property sales in November 2021 was $835,000, a moderate gain of 5.7% from November 2020. The more comprehensive year-to-date waterfront median price was $907,650, increasing by 29.7% from the first 11 months of 2020.

The total dollar value of all residential non-waterfront sales in November 2021 was $391.7 million, a gain of 12.4% from the same month in 2020. This was also a new record for the month of November.

The total dollar value of all waterfront sales in November 2021 was $103.5 million, down sharply by 32.9% from the same month in 2020.

The Lakelands Association of REALTORS® represents more than 1,550 REALTORS®. There are several major geographical areas within the Association’s boundaries, including parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford, Grey Highlands. As well as Towns of Midland and Penetanguishene, the Townships of Tay, and Tiny. In the heart of Canada’s Cottage Country; Parry Sound, Muskoka, Haliburton, Orillia, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, and Lake of Bays. Most within our geographical area are located less than a two-hour drive north of Toronto. Each offering a unique blend of properties ranging from residential homes to smaller towns and the rural areas in-between, as well as a mix of waterfront homes/cottages on the many rivers and lakes that range from the smaller entry-level properties to the prestigious.

In October The Lakelands’ Political Action Committee (PAC), with the support of the Ontario Real Estate Association (OREA), met with MPP Jill Dunlop (Simcoe North), MPP Jim Wilson (Simcoe-Grey), MPP Norm Miller (Parry Sound – Muskoka), and MPP Bill Walker (Bruce Grey Owen Sound) to discuss important topics around home affordability and what the government can do to support families who want to own a home.

Homeownership in Ontario has been, for generations, a cornerstone of our shared prosperity and supports families and stronger communities. In addition, housing and real estate sectors support tens of thousands of jobs and billions of dollars in economic activity. That said, the number of homes on the market has declined, prices have increased, and family incomes are not keeping pace.

When the market is balanced (good for buyers and sellers) we have between 6 and 4 months of inventory. A buyer’s market has 6+ months of inventory and 4 or less is considered a seller’s market. In Ontario, we have just under 1 month’s worth of homes on the market, and this declining trend was happening well before the pandemic hit – which is the lowest it has been in over 30 years and has resulted in home prices increasing. The Political Action Committee requested MPP support to lower costs for first-time homebuyers by increasing the first-time home buyers’ rebate from $4,000 to $8,000.

Furthermore, family incomes are not keeping pace with rising home prices. Today in the GTA, as an example, a family is dedicating nearly 70% of their after-tax income to housing-related costs – over double what experts say, families should spend. So even if they can find a home, the cost of carrying that property is stretching family budgets very thin. 46% of home buyers under 45 are looking outside of Ontario because it’s so expensive to live in our Province. The Political Action Committee requested MPP support to build more homes for families with the introduction of the “Bring Affordability Home Act, 2021” which will make it easier to build homes for families.

Our REALTOR® members go beyond buying and selling homes; they advocate to provide affordable housing in our communities and support families who want to own a home.