Category: Blog

April 15, 2021

Supply and demand is a natural phenomenon that dictates market prices and Real Estate is no different.

Canada is the envy of the world for her immigration policies and the way people from all walks of life and varying backgrounds of religion, culture, colour, and language live in harmony without prejudice and feel pride in calling their newly adopted home as the best place in the world to live in.

Canada needs immigrants, it cannot sustain its growth without constant induction of new immigration, the national policies on immigration reflect this need in their plans.

Canada is constantly increasing the new immigrant target every year increasing from 241,000 in 2015 to 341,000 in 2019.

According to today’s Globe and Mail report “The federal government plans to grant permanent residency to more than 90,000 temporary foreign workers and graduated international students as part of its goal to admit 401,000 immigrants this year.”

Newly arrived immigrants would need a home to live in. Housing supply which is already facing supply and demand challenges is going to squeeze the supply further and eventually helping retain the increasing housing prices towards the upward trend for the foreseeable future.

I will be glad to discuss your home-buying situation and how you can fulfill your dream of owning your own home sooner than later.

I can be reached directly at 416-908-5600.

You can read the full Globe and Mail report at:

If you like what you read, I will ask you to leave your gracious Google Review at:

Please pray for the safety of all and seeing an end to the COVID-19 pandemic soon.

#BeSafeAndHelpOthersBeSafe

A. Q. Mufti

Dir: 416-908-5600

E-Mail: info@aqmuftirealty.com

Profile: http://www.muftiestates.com/about_me/25723
Web:    www.aqmuftirealty.com

             www.aqmuftirealty.com

Instant FREE Updates When Your Neighbours Are Selling!: https://www.aqmuftirealty.com/landing/neighbourhood-buzzer

As most analysts were expecting, the Bank of Canada (BOC) announced its second interest rate increase of 50 basis points bringing the rate to 1.5%. BOC is expected to continue upward rate increases for some time to come.

Continued slowing down of the world economy driven by rising energy and food prices is contributing to the broadening of inflation worldwide.

Canadian Consumer Price Index (CPI) has touched 6.8% in the last month, April 2022, which is well above the BOC’s forecast. The majority of CPI categories (70%) have shown inflation above 3% while the core categories show inflation in the range of 3.2% and 5.1%.

We are living in a global village and our economies are interconnected, developments happening on the far end of the planet hit us hard at home. The Russian invasion of Ukraine and COVID-19 lockdowns are disrupting the world supply chain and contributing to the slowdown of economies and increasing inflation.

The good news about the Canadian economy is that it is running in excess demand. Businesses are reporting a shortage of labour force. Housing market is easing off after touching its peak recently. According to BOC robust consumer spending along with exports is expected to be gaining momentum, and second-quarter growth is expected to be strong.

According to the subject experts, BOC is looking to continue its rate increases to achieve a target inflation rate of 2%.

So, looking at the forecast on rates, the common question is WIFM (What’s In It For Me)?

There are always two sides to a coin, on one side the rate increase would affect the borrowing power of home-buyers and would limit the maximum home price they can buy their dream home. On the other hand, the home prices are settling down after seeing craziness in the market. The increase has been due to the natural supply and demand scenario but, in my opinion, multiple blind bidding contributed to the artificial increase in the home prices.

The big question remains, is it time to buy now or sell your home?

If you have any questions or would like to discuss your unique needs and goals, please don’t hesitate to contact me at 416-908-5600. I’m here to help you find the perfect, tailor-made solution.

If you found this review helpful, I would greatly appreciate it if you could kindly leave a Google Review for my real estate services at

A. Q. Mufti Google Review

Thank you for your continued support!

A. Q. Mufti

Your Trusted Realtor in Mississauga, Oakville, Milton and beyond.

April 17, 2021

Province of Ontario’s COVID-19 cases continue to climb at record-breaking levels.

On April 17, 2021, Ontario reported more than 4,800 COVID-19 cases a day setting another daily record of the COVID-19 cases in the province.

Seeing the dire need in the province Trudeau Government is sending Red Cross to Ontario to help in the fight against the increasing number of COVID-19 cases.

It is reported that the province of Ontario could see more than 30,000 cases a day should strict measures not be taken seriously.

On April 17, 2021, Ontario announced stricter stay-at-home order and extended it to six weeks, from four weeks announced earlier.

Addressing a combined press conference with health and other cabinet members, Premier Ford said “As the latest modelling confirms, without taking immediate and decisive action COVID-19 cases will spiral out of control and our hospitals will be overwhelmed,”.

Here is the excerpt from the Ontario government’s press release;

“The government also intends to implement the following public health and workplace safety measures effective Saturday, April 17, 2021, at 12:01 a.m.:

• Prohibit all outdoor social gatherings and organized public events, except for with members of the same household or one other person from outside that household who lives alone or a caregiver for any member of the household;
• Close all non-essential workplaces in the construction sector;
• Reduce capacity limits to 25 per cent in all retail settings where in-store shopping is permitted. This includes supermarkets, grocery stores, convenience stores, indoor farmers’ markets, other stores that primarily sell food and pharmacies; and,
• Close all outdoor recreational amenities, such as golf courses, basketball courts, soccer fields, and playgrounds with limited exceptions.

In addition, effective Monday, April 19, 2021 at 12:01 a.m., the government is limiting the capacity of weddings, funerals, and religious services, rites or ceremonies to 10 people indoors or outdoors. Social gatherings associated with these services such as receptions are prohibited, except for with members of the same household or one other person from outside that household who lives alone. Drive-in services will be permitted.”

To see the full press release please go to https://news.ontario.ca/en/release/61192/ontario-strengthens-enforcement-of-stay-at-home-order

After I shared with you my analysis based on the last Sales Report by Toronto Regional Real Estate Board (TRREB), I know you were anxiously waiting to know what is happening now in the market, especially after the effects of the BOC Rate increase by fifty basis points. So let’s see the latest numbers released by TRREB for the last month, May 2022.

The market continued its downward trend from the last month as the residential transactions saw a similar negative trend of 39%, close to 41% seen when compared to the same months last year. The total transactions were recorded to be 7.3K compared to last month’s 11.9K.

The seasonally adjusted transactions also saw a 9.3% dip and recorded 6.2K in May 2022 compared to 6.8K in the same month last year.

As I have been mentioning all along, the unrealistic price has adjusted itself but the realistic price has been stable or continued to rise, it is evidenced by a positive increase of 9.4% in May this year compared to May 2021. The Average Selling Price in May rose to $1.213M last month from $1.108M recorded in May 2021.

The seasonally adjusted Average Selling Price saw a dip of 3.1% from $1.214M in April 2022 to $1.176M in May 2022.

There was a very slight jump in the total new listings in the market of a .50% increase, totalling 18,679 listings.

Even though there was a slight increase in the new listings there were fewer new listings sold recording a decline of 25% overall, bringing the Sales-to-New Listings Ratio to 39% in May 2022 from 64% in the same month last year.

Properties remained in the market much longer than last year in the same month that is 18 days in May 2022 compared with 15 days in May 2021, taking 20% more days to sell a property.

The Home Price Index (HPI) continued its upward trend and crossed the 1,250K mark. For your information, as per the TRREB definition, HPI provides a price growth measure for a benchmark home with the same characteristics over time, allowing for an apples-to-apples comparison from one year to the next.

Residential condominium sales also got a negative hit on their sales and recorded a 15.6% decline from 9,399 to 7,932 comparing the Q1 results with the same period of last year.

To the surprise of many, the Average Selling Price of Condos, compared with Q1 2022 to Q1 2021, saw a jump of 22.4%.

Total new listings saw a very slight jump, 3%, in Q1 of 2022.

Sales-to-new-listings Ratio took a dip of 14% comparing the same quarter last year with 69% of new listings sold in the current quarter while 83% in the same quarter last year.

The number of days for a listing to remain in the market, recorded as 12 days, was significantly reduced, by 48%, in this quarter compared with 23 days last year in the same period.

There were 23% fewer Condos rented and the new rental condos in the market were reduced by 43% which created the supply and demand scenario and gave a jump of 18% more rent for a 1-Bed Room Apartment to $2,145 in Q1 2022 from $1,820 in Q1 2021.

The Commercial Leasing and Sales activities declined by 25.4% and 22% respectively in Q1 2022 compared to Q1 2021.

The average Industrial Lease Rate increased by 29% to $13.17/SF.

The Average Commercial/Retail Lease Rate increased by 14.4% to $22.74/SF from $19.88/SF.

The Average Office Lease Rate saw a decline of 2% to $17.73/SF from $18.1/SF.

With the Bank of Canada (BOC) rate hike of fifty basis points just a day before, we will have to see the market reaction for some time to come. On one side, the change would impact negatively on the affordability of the potential buyers; on the other hand, one may see, hopefully, some settlement in the home prices, but only the time will tell. I will keep you posted, as always, with the latest market trends so you can make an informed decision for your, generally, the largest investment in your life.

If you have any questions or would like to discuss your unique needs and goals, please don’t hesitate to contact me at 416-908-5600. I’m here to help you find the perfect, tailor-made solution.

If you found this review helpful, I would greatly appreciate it if you could kindly leave a Google Review for my real estate services at

A. Q. Mufti Google Review

Thank you for your continued support!

A. Q. Mufti

Your Trusted Realtor in Mississauga, Oakville, Milton and beyond.

April 22, 2021

Despite the COVID-19 pandemic, the Bank of Canada sees a stronger-than-expected economic recovery hence is expected to raise the lending rate in the second half of next year, 2022.

Is it good news for the homebuyers? The answer is yes and no.

It is bad news for the buyers who are still waiting to get into the real estate market both as first-time homeowners and as investors but have not made up their minds.

Because if they still have to wait for next year they will be looking into paying higher rates compared to historically low rates these days.

It is even more likely, as the banks normally do, that the banks may increase their lending rate in advance in anticipation of the BOC rate hikes. So the hike in the bank rates starts to affect them even earlier than anticipated.

On the other hand, it is somewhat good news, especially for first-time homebuyers, as it may have some cooling effect on the ever-climbing house prices that are going on for over a year now and does not seem to have any other cooling effect in sight.

But again, it is a double whammy in the sense that they may be looking for some slowing down in the house prices, which may not come true due to many other factors, but on the other hand, they will be paying for higher monthly payments.

Besides, their affordability would also reduce due to the debt ratio the lenders calculate based on their earnings, liabilities, and the monthly payment they can afford.

Does it all sound complicated?

I can help you understand the current real estate situation and walk you through towards achieving your goal of having your dream home or finding the best investment opportunities.

I can be reached directly at 416-908-5600.

Please pray for the safety of all and seeing an end to the COVID-19 pandemic soon.

#BeSafeAndHelpOthersBeSafe

A. Q. Mufti

Dir: 416-908-5600

E-Mail: info@aqmuftirealty.com

Profile: http://www.muftiestates.com/about_me/25723
Web:    www.aqmuftirealty.com

             www.aqmuftirealty.com

Instant FREE Updates When Your Neighbours Are Selling!: https://www.aqmuftirealty.com/landing/neighbourhood-buzzer

To read the full article of Financial Post please follow the link:

June 3, 2021

Contrary to one’s wishes the Real Estate market continued its upward flight through May 2021.

Although Toronto Region Real Estate Board (TRREB)’s latest sales report for May 2021 shows a slight adjustment in the overall transactions which was down by about 9%, the Sales Price continued the upward trend with over 1% increase compared to last month, April 2021.

Comparing the Sales price with the same month last year, May 2020, it jumped a whopping 28.4%.

While the new listings coming in the market were almost more than two and a half percent (160%+) one would expect a relaxed competition and probably cooling down the pressure, it worked the other way around.

There were 14% more sales to available properties in the market for sale compared to last year the reason could be attributed to the start of COVID-19 last year and after a full year of the pandemic.

Similarly, it took less than half the time to sell a property than it took the same month last year, to be exact 53.1%. It means the property remained in the market on an average for 15 days in May 2021 compared to 32 days a year earlier.

With the OSFI’s latest tightening-up mortgage stress test, starting from June 1, 2021, we still need to see its impact on the overall market.

So far, there does not seem to be any dent in the Sales Price of the housing prices.

The two factors that remain behind the heated market are historic low mortgage rates and new immigrants expected to come into the country as soon as the flights are open and quarantine rules relaxed.

I am always available to discuss further and find the best solution for your requirements and situation whether you are planning to buy or sell or both to move to a bigger house or downsizing.

There is always a better solution a professional can provide, sometimes beyond your thoughts.

I will be glad to receive your call at your earliest convenience at 416-908-5600.

Take care of yourselves and follow the safety precautions defined by healthcare professionals.

Please pray for the safety of all and seeing an end to the COVID-19 pandemic soon.

#BeSafeAndHelpOthersBeSafe

If you like what you read, I will ask you to leave your gracious Google Review at:

A. Q. Mufti

To see TRREB’s full May 2021 home Sales report, please click the link: https://communications.torontomls.net/mlshome/download.php?link=market-stats/market-watch/mw2105.pdf

June 7, 2021

The COVID-19 pandemic has changed our lives forever in the way we work (mostly work from home these days), the way we meet people (social distancing), personal hygiene (washing and sanitizing our hands), protecting ourselves and others (wearing masks), and the list goes on.

While we are eagerly waiting to get out and enjoy the beautiful sunny days, good news seems like starting to come by one after the other.

Just last week FDA approved a drug to treat COVID-19 patients, please note that this is other than the vaccine which is a prevention regime from the virus.

Just a few minutes ago today the province of Ontario has announced a three-stage plan of opening the businesses and gradual easing of shopping and social and religious gatherings.

A good article appeared in today’s The Globe and Mail and an excerpt from the article is quoted for your quick review:

“

Here are the highlights of what’s allowed under the first phase:

– Outdoor gatherings of up to 10 people (a government spokesperson confirmed different households can mix)
– Patios with up to four people at each table
– Retail will begin reopening with a 15-per-cent cap for non-essential businesses, 25 per cent for essential retail
– Outdoor religious ceremonies and rite with capacity limits and two-metre physical distancing requirements
– Outdoor sports and training for up to 10 people allowed
– Day camps, campgrounds, Ontario Parks, horse racing, speedways, outdoor pools, zoos, splash pads allowed

Here are the highlights of what’s allowed under the second phase:

– Outdoor gatherings for up to 25 people, indoor gatherings for up to 5 people
– Outdoor patio tables will be able to have up to six people
– Non-essential retail capacity will be increased to 25 per cent
– Personal care settings with face masks worn at all times
– Outdoor meeting and event spaces, amusement parks, water parks, boat tours, county fairs, sports leagues and events, cinemas and arts venues will be allowed to reopen

Here are the highlights of what’s allowed under the third phase:

– Large indoor, outdoor gatherings and indoor dining
– Greater expansion of capacity for retail businesses
– Larger indoor religious services, rites and ceremonies
– Indoor meeting, event spaces
– Indoor sports, recreational facilities
– Indoor seated events, attractions, cultural amenities
– Casinos and bingo halls
– Other outdoor, phase two activities will be allowed to operate indoors

“

I am always available to discuss further and find the best solution for your requirements and situation whether you are planning to buy or sell or both to move to a bigger house or downsizing.

There is always a better solution a professional can provide, sometimes beyond your thoughts.

I will be glad to receive your call at your earliest convenience at 416-908-5600.

Take care of yourselves and follow the safety precautions defined by healthcare professionals.

Please pray for the safety of all and seeing an end to the COVID-19 pandemic soon.

#BeSafeAndHelpOthersBeSafe

If you like what you read, I will ask you to leave your gracious Google Review at:

A. Q. Mufti

To read the Globe and Mail full article click the link below:

With the recent major rate increase announcements one after the other by the Bank of Canada, many are eager to know when is the next announcement by BOC so that they can arrive at a strategic decision about their home buying or selling decision.

A general perception is that the rate announcements are made quarterly by BOC, which is not true.

BOC makes several types of announcements, one of these is about its decision on interest rate change.

The Bank of Canada publishes the schedule of rate announcements for the coming year almost halfway through the current year. For example, in July 2021, BOC announced the schedule for interest rate announcements as follows:

Wednesday, January 26*
Wednesday, March 2
Wednesday, April 13*
Wednesday, June 1
Wednesday, July 13*
Wednesday, September 8
Wednesday, October 27*
Wednesday, December 8

*These are dates when BOC publishes its monetary policy

The announcements are made at 10 am (EST).

The Bank of Canada also issues the Business Outlook Survey and Canadian Survey of Consumer Expectations.

The schedule for the above for 2022 is as follows, which is announced at 10:30 am (WST):

Monday, January 17
Monday, April 4
Monday, July 4
Monday, October 17

I hope this information would be useful for your decision-making and planning for your real estate decisions.

Whether you take a mortgage or buy cash, the interest rates in the market affect the value of the houses and the sentiments of the market.

If you have any questions or would like to discuss your unique needs and goals, please don’t hesitate to contact me at 416-908-5600. I’m here to help you find the perfect, tailor-made solution.

If you found this review helpful, I would greatly appreciate it if you could kindly leave a Google Review for my real estate services at

A. Q. Mufti Google Review

Thank you for your continued support!

A. Q. Mufti

Your Trusted Realtor in Mississauga, Oakville, Milton and beyond.

June 6, 2020

A recent forecast from CMHC of a potential decrease in home prices by up to 18% has raised many questions.

First, what are the assumptions CMHC based their report on, what the market stats are reflecting, and what is the rationale behind their thought process, and many more?

It has also created confusion in the minds of buyers and sellers alike about the future of the housing market in Canada, especially in the GTA.

Contrary to CMHC’s forecast, the latest housing market report released by Toronto Region Real Estate Board (TRREB) for last month (May 2020) shows average sale price increased by 3%.

A blog written by RE/MAX challenges CMHC’s report and calls it “irresponsible”.

The blog says “the region has not experienced any decline in price and if current conditions continue, there’s nothing to indicate that prices will fall between nine and 18 percent, as CMHC has predicted.”

Take care of yourselves and follow the safety precautions defined by healthcare professionals.

Please pray for the safety of all and the cure for COVID-19 to be found at the earliest.

#BeSafeAndHelpOthersBeSafe

A. Q. Mufti

Follow the link for full report:

If you own a home in Toronto, there is good news for you. The city of Toronto has announced incentives and interest-free loans of up to $125K for 15 and 20 years.

The enhanced Home Energy Loan Program (HELP) is designed to help Toronto homeowners make their homes more energy-efficient and help reduce carbon emissions, a major contributor to climate change.

Incentives for specific measures include:

Home improvements eligible for financing include:

• Electric heat pumps
• Insulation (attic, wall, basement)
• Upgraded windows/doors
• Air sealing
• Geothermal systems
• Rooftop solar PV
• Tankless water heaters
• Solar hot water systems
• EV charging stations (Level 2) and more

You can see details of the program and the application form at Toronto City’s website at https://www.toronto.ca/news/city-of-toronto-offers-zero-interest-loans-incentives-to-accelerate-home-retrofits-and-emissions-reductions/

If you have any questions or would like to discuss your unique needs and goals, please don’t hesitate to contact me at 416-908-5600. I’m here to help you find the perfect, tailor-made solution.

If you found this review helpful, I would greatly appreciate it if you could kindly leave a Google Review for my real estate services at

A. Q. Mufti Google Review

Thank you for your continued support!

A. Q. Mufti

Your Trusted Realtor in Mississauga, Oakville, Milton and beyond.