As stated in one of Tembo’s previous posts, the average national sale price is expected to hit $448,700 this year. This is an increase of 1.4% year-over-year which is a major decrease from the 8.4% year-over-year Canada experience in 2015. So what can we expect from this year? The real estate market is expected to slow which will be quite noticeable after coming off one of its best years on record. This slow is expected to be quite dramatic since the market is already showing signs of stress with markets outside of Toronto and Vancouver experiencing increasing downfalls. An economist from the National Bank of Canada stated that “the Canadian real estate market is already in correction mode”. Though these dramatic market changes
Have you sold your home, and now can use an advance on your equity before closing day, perhaps you need money for renovations? Tembo Financial can help! Tembo offers this unique service to homeowners in Ontario and the GTA. You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you. Don’t wait, start today!
*Subject to qualification.