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Valuable Property Analytics And Insights With RPS

Real Property Solutions (RPS) team Amy Webb and Rob Maughan went live this month in our latest Realtor webinar series discussing valuable property analytics and insights. Here’s what we covered:

• Why the timing of the home purchase matters when it comes to appreciation growth.
• Where sales have shifted to lower value properties as buyers offset higher costs.
• How varied pricing is now across regions and even adjacent neighbourhoods.
• How to keep owners updated on property values as their perception is often not in line with reality.

Hands-on demonstration of RPS' Home Price Tracker tool and how it can provide an estimated value for any address for more accurate pricing guidance.

Valuable analytics and insight from Canada's leading resource for housing data:

• Why the timing of the home purchase matters when it comes to appreciation growth.
• Where sales have shifted to lower value properties as buyers offset higher borrowing costs.
• How varied pricing is now across regions and even adjacent neighbourhoods.
• How important it is to keep owners updated on property values, as their perception is often not in line with reality.
• Hands-on demonstration of RPS' Home Price Tracker tool and how it can provide an estimated value for any address for more accurate pricing guidance.

INFORMATION NOTES:

House prices have retreated from highs in Q2 2022 as interest rates increased.

• Toronto is starting to make a recovery and most of all the other markets are starting to stabilize.

Sales have shifted to lower value properties with buyers having to offset higher borrowing costs with lower priced homes.

• Supply of listings remains low helping to prop up average prices.
• Investors still on the sidelines.
• Market shifting back to buyers side.

The timing of when you bought the home matters.

• Those who purchased in 2019 and 2020 are doing well.
• For example, appreciation in Toronto is up 30%, 45% in Mississauga, 50% in Pickering and Brampton since 2019.

Pricing impacts and changes are not uniform across Canada and each neighbourhood tells a different story.

• Some areas of positive price appreciation growth and some were less impacted in the past 12 months points to pockets of opportunity for buyers.
• 80% of urban city level indices for SFD and 76% for condo declined since spring, with declines of 78% found in rural city level indices for SFD,
• SFD in Uxbridge saw price appreciation up 80% in 2019 and still positive today.  Grimsby up 60% since 2019 and has held its value in 2022.
• Halton Hills, Caledon for example were hardest hit against other GTA west municipalities.
• Distribution and magnitude of declines not even across Provinces either. AB and QC minor price declines of 5 and 3% vs. 16% in Ontario and 11% in BC for urban cities.

Lag in consumer perception when it comes to their housing values.

• As home values started to decline in early 2022, owners did not realize the market impacts and were still overvaluing their homes.
• Earlier on from 2021 Q3 to 2022 Q2 the opposite had occurred and homeowners were undervaluing their homes.
• RPS Estimators can help you set the expectations.

RPS House Price tracker can provide you with greatest insights.

• Simply plug in any address and get an estimated value. Gets down to the lowest geographies to find the greatest insights.
• Subscription Information - Mortgage brokers have access for free as a valued client. Realtor partners can go through broker partner to get access.

What's Next

Want to know what's next? Get in touch with us to explore more.