PRESIDENT'S LETTER

Welcome to the Fall edition of The Collection. I hope you had a happy, healthy, and safe summer season. Obviously, this was a summer like no other and the same can be said for the coming season and beyond.

It was quite surprising to see the resurgence of the real estate market these past few months. The Toronto Regional Real Estate Board (TRREB) recently released the sales figures for September, and over 11,000 homes were sold on the MLS, making it the busiest September on record. In fact, this was the third record-setting month in a row. Despite so few homes selling in April and May, we are now ahead of 2019’s sales at the same time last year.

Certainly, low interest rates and a recovering economy have a lot to do with it. And, no doubt, desire for space and sanctuary has driven activity in the suburbs and cottage areas. But I believe that there’s a broader narrative at play, and that is the market’s confidence in real estate as a store of value. We saw in early spring the wild fluctuations of the stock market, and though it’s bounced back, there remains volatility. By comparison, when the buyers hit the brakes in March, we never saw a collapse in pricing. In fact, prices held firm right until June and have been on an upward trajectory ever since.

Turning to our latest issue, there’s a lot to explore. It’s Thanksgiving and despite the global challenges, there remains much to be thankful for. To help you with some ideas for an in-home celebration, John Horne from Oliver & Bonacini Hospitality is here with some great suggestions. We’re also joined by Geoff Cape from Evergreen and Future Cities Canada. This month, he and his team will be launching the #UnexpectedSolutions summit, a must-see online event for anyone interested in city building.

We hope you enjoy the latest issue. We wish you and your family a happy and healthy fall season, and we look forward to seeing you again in December.

HARVEY KALLES Chairman & CEO

MICHAELKALLES MBA, dip.RPD, President