Slide 1

Free Professional Advice

Why choose Micah? Because I provide valuable professional advice and it’s FREE!

Why pay more than needed? Get my rate specials. Let me negotiate the best rate for you and save money.

Slide 2

Best Rates

Let me shop the major banks and top lenders for you.

Let me negotiate the best rate. Remember I work for you, not the banks.

Slide 3

Get Approved

My approval rating is high.

With my portfolio of lenders, I can find you a program that works for you.

Slide 3


Lower rates equals thousands in savings.

Why pay more than needed? Get my rate specials. Let me negotiate the best rate for you and save money.

Slide 3


When the banks are closed, I am not.

I work for you and I am at your service 7 days a week.

Blog by Micah Verceles

<< back to article list

December Housing Reports Show Plummeting Home Sales in 2018 in Toronto and Vancouver

In separate releases, the local real estate boards in Canada's largest housing markets released data this week showing home sales fell to decade lows in 2018 reflecting rising interest rates and stricter mortgage rules.

Sales in the GTA fell 16% in 2018 while the average price declined 4.3%, the Toronto Real Estate Board reported today. That is the worst year for sales in Canada's largest city since the financial crisis in 2008. In Vancouver, full-year sales fell 32%, the lowest since 2000 and 25% below the 10-year average. Prices in Vancouver for detached homes in some areas dropped at least 10%.

Sales in both cities dived in the first half of 2018 after the federal government imposed more stringent qualifying rules for mortgages. Vancouver sales continued to suffer even while Toronto began to recover in the second half, as the British Columbia government introduced more measures to deter speculation. The BC government in its 2018 budget increased the foreign buyers' tax and added a speculation tax, which in addition to rising interest rates dampened sales, especially for more expensive single-family homes.

New listings were down in Toronto last month as homeowners have decided to stay put for now rather than attempting to cash out.

Dr. Sherry Cooper
Chief Economist, Dominion Lending Centres