The Reason so Many People Are Moving

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Why are so many people in the GTA moving, and how is it affecting the market? I’m answering both of these questions today.

Most people these days are motivated to buy or sell a home due to a life change. Whether it's marriage, birth, death, or divorce, these life changes create a need to sell. We’re seeing two of the largest population segments making moves. Baby boomers are looking to downsize, and millennials are looking for their first home as they have kids of their own. As they experience these milestones, purchasing a home becomes a greater priority.

In this market, there just aren’t enough available homes to accommodate the demand from these growing demographics. If we continue to see strong demand, prices will continue to rise. If we compare this market to the same time in 2020, prices have gone up by a whopping 14.7%. At some point, these climbing prices will start to limit buyers’ affordability. 

If you or someone you know needs to buy or sell due to a life change, don’t hesitate to reach out via phone or email. We would love to help and look forward to hearing from you soon.