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Date: March 4-5, 2015
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Mississauga home sales up year-over-year in January
Residential property sales recorded through the MLS® System of the Mississauga Real Estate Board came in above year-ago levels in January 2015.Home sales numbered 500 units in January, up 8.2 one per cent from levels in the same month in 2014.

"Home sales bounced back in January following a bit of a dip in December," said Nigel Purai, President of the Mississauga Real Estate Board. "Tight market conditions continue to exert upward pressure on prices. The average monthly sale price is currently sitting at about $500,000, about five per cent or almost $25,000 above where it stood at the beginning of last year." The average price of homes sold in January 2015 was $497,003, up 4.9 per cent from January 2014.

New residential listings numbered 1,057 units in January 2015, rising 6.4 per cent from January 2014. Active residential listings on the Board’s MLS® System numbered 1,220 units at the end of January 2015. This was down 7.4 per cent from the end of January 2014.

There were 2.4 months of inventory at the end of January 2015, down from 2.9 months at the same time last year and below the long-term average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity. The total value of all residential sales in January was $248.5 million. This was up 13.6 per cent from January 2014.

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Mississauga transit force growing thanks to gas tax fund contributions
Representatives from the federal government were in Mississauga to see first-hand what some of the money the municipality has received through the gas tax fund has been able to do to improve transit. Mississauga-Erindale MP Bob Dechert was joined by Mayor Bonnie Crombie and other municipal councillors and representatives at the Central Parkway Transit Campus. While there, they got to see what some of the more than $152 million the municipality has received from the federal gas tax fund in the last nine years.
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Search is on for Mississauga's 2015 Citizen of the Year
Those deserving of awards are often the type of people who don't seek fame or attention for the work they do to better the community. However, it doesn't mean they shouldn't be recognized. Right now, the search is on for the 2015 Mississauga Citizen of the Year and nominations are being accepted to honour an individual who has worked tirelessly over the years to make their city a better place.
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If real estate agent related to buyer or seller, full disclosure is critical
Toronto Star
On occasion, a registered real estate professional may be related to the buyer or the seller of a home. The agent could also be the buyer or seller. This is acceptable so long as the real estate rep follows rules set out in the legislation that regulates the real estate brokerage industry. The general rule is that if the real estate professional is related to the buyer or the seller of the property, he or she has to disclose the relationship in writing to all other parties to the purchase and sale agreement.
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Mayers: If GTA housing unravels, how it might unfold
Toronto Star
If Toronto's housing market did unravel, how far might prices fall? How long would the pain last and what would a recovery look like? Tough questions only answered in hindsight because each housing correction has a life of its own. In the early 1990s as a new homebuyer, I watched the value of my house fall by about 15 per cent over two years. For another two, prices bumped along the bottom. Once economic recovery took hold, housing took off and hasn't stopped since.
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Hamilton home sales drop in January
CBC News
Home sales are always expected to dip in the winter, but Hamilton home sales last month dipped lower than average for a January. Only 685 residential properties sold compared to 742 a year earlier, the Realtors Association of Hamilton-Burlington said. That was a drop of 7.7 per cent. The median price for the detached homes that sold in January was $381,250, up 6.2 per cent from the $359,000 median price in January 2014.

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Durham could have robust housing market in 2015
Durham Region
Oil prices have been dropping, the loonie is at a level not seen in years and interest rates remain at historic lows. Those factors seem to be boosting Canadians' confidence in the economy. Confidence means people might be more willing to make that move to either enter the housing market or to move up in the market. In fact, 2015 is off to a strong start, according to the Durham Region Association of Realtors.

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Realtors scrambling after threats by board to cut access to MLS
Toronto Star
The Toronto Real Estate Board is threatening to cut off a vital lifeline — access to the Multiple Listing Service — for realtors who continue to push the information envelope by offering sold data of homes on public websites. The move is largely seen as aimed at a new, tech-savvy generation of realtors who believe that all MLS data — and especially sales histories of homes — should be readily accessible online, as it is on popular U.S. sites like and, which allow folks to do more of their own research.

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GTA realtors release mid-month resale housing figures
Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported a 14.9 per cent increase in the number of sales entered into the TorontoMLS system during the first two weeks of February 2015 compared to the same period in 2014. There was a total of 3,120 home sales during the first 14 days of February 2015.
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Ontario's housing market gets ready for takeoff
The Record
The Canada Mortgage and Housing Corp. is predicting that Ontario's improving economy will lift housing demand in the province. According to the national housing agency's most recent housing market outlook, an improving U.S. economy and a lower Canadian dollar will both boost Ontario's economy and support new housing construction and sales. An additional kick will be provided by low interest rates, meaning mortgage rates will be supportive of housing demand.
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Hudson's Bay Co. forms new real estate joint ventures
The Hamilton Spectator
Hudson's Bay Co. is launching separate joint venture partnerships with two major North American real estate companies as it looks to unearth value from its vast collection of stores and scours the market for attractive retail assets. Hudson's Bay Co. chief executive Richard Baker, head of Hudson's Bay, Lord & Taylor and Saks Fifth Avenue, said Wednesday that the new agreements will help shareholders finally recognize the value of properties in the company's portfolio, which he believes are worth $9.2 billion overall.
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Missed last week's issue? See which articles your colleagues read most.

    Realtors scrambling after threats by board to cut access to MLS (Toronto Star)
Dixie Mall sold: Mississauga landmark will 'evolve,' but not be demolished under new ownership (Inside Halton)
Not everyone optimistic about GTA housing market, despite strong start to 2015 (Metro News)

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Real Estate Update
Frank Humada, Director of Publishing, 289.695.5422
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