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Short and concise info on the last week.

Real Estate and Housing Market

Toronto sales down 20% in the month of April as the market cools. Supply around Ontario is rising as more homes come on the market for prime moving months of the year.

Bidding wars across Canada beginning to cool as supply is increasing and demand is maintaining. Expect the overall selling price of homes to decrease, but listing prices to maintain.

First Time Home Buyers Incentive 2.0
The second version of the First Time Home Buyers Incentive officially launched on May 3rd 2021. Changes are Regional, and only apply to Toronto, Vancouver, and Victoria. Meaning that Provincially nothing has changed. For the 3 affected Regions, household income has been increased to $150,000, and can borrow up to 4.5 times their household income.