What are the positives and negatives of the upcoming fall market?

My thoughts on the fall market are more than positive. I believe we have reached a level of confidence in the minds of the consumer that will continue to  underpin a strong but stable market for the fall season.

We have seen a movement in the whole economy that can be described not as rush to full recovery but rather a steady re-entrenchment of sound fundamentals that will continue to bring about a stable level of growth.  As the last ten years have shown us,  a market that moves forward with reasonable price appreciation is a market that can sustain its advances.

Toronto’s values never increased at a double digit rate, so the problems experienced south of the border in cities like Miami and Las Vegas have not developed here. It almost seems that we are” immune” to some of their problems — as in so many other things, it is the steady tortoise who ends up in best shape at the end of the day.

My only negative concern about the upcoming market is that we just don’t have the supply to keep up with the demand. We had about 37 per cent less listings at the beginning of Sept. 2009 then we had at the start of Sept. 2008.

And with interest rates at historic low levels, confidence continuing to return to the market, I think we could have a real log jam of too many buyers and not enough homes to satisfy them.

Jimmy Molloy is one of Toronto’s leading luxury real estate agents working on behalf of Chestnut Park Real Estate. Every week he answers your questions in his blog. Email a question here and check out Jimmy’s website.