Expert homebuying advice from Deena Pantalone, Jason Pantalone and Matthew Pantalone, National Homes

There’s been no shortage of reasons for pause for some would-be homebuyers: Uncertainty over housing supply, interest rates, inflation, politics and the economy in general. But the pendulum looks to be swinging back the other way.

To help you understand all the factors to make a better, more informed homebuying decision, our 2024 Builders' Annual sat down with some of the industry’s top builders and developers for expert advice.

What is your outlook for the housing market for 2025?

Deena Pantalone

The good news is that inflation is now down to around two per cent, where it should be. That means rates have started to come down as well. Homes are easier to carry now than they were a year or two ago. While we don’t expect the return of the ultra-low rates from before COVID, there should still be some room for a few more rate reductions as we start the new year.

End-user demand is strong and it’s been pent up and held back by higher rates. We hope to see the market strengthen in the fourth quarter with the next rate cut, and that the spring market could be surprisingly strong.

Government policy at all levels still needs work. So much of the tax base is reliant on surcharges on homeownership. If we want a strong healthy real estate market, where affordable homes are available, then the burden needs to come off homebuyers.

Governments of all levels are aware they need to do more to facilitate more new housing. How would you advise them, to help the cause?

We need a national housing program to help address the imbalance of demand and lack of available homes. The status quo hasn’t changed the paradigm.
Yes, moves have been made but it’s an urgent issue that is impacting an entire generation of Canadians.

First-time buyers need direct support. In the U.K., mortgage payments receive a flat 20-per-cent tax credit. In the U.S., you can claim interest on the first $750,000 of your mortgage.

Here in Canada, it applies only to investment properties. That’s not helping young homebuyers.

What advice would you offer to buyers?

Jason Pantalone

Canadian housing policy has become a central issue due to affordability concerns. By 2025, governments may further tighten regulations on foreign buyers or implement more aggressive measures to curb speculative buying, such as the continued expansion of rent control or vacancy taxes. New housing affordability programs, potentially aimed at first-time buyers, could also be on the horizon, but these may have limited immediate impact on home prices.

Zoning restrictions, particularly on low-density areas in the GTA, are currently a bottleneck for supply. Changes that allow more mid- and highrise developments in established neighborhoods could help ease some pressure on supply, though these reforms can take years to show tangible results.

Lengthy approval times for new developments often delay housing projects. Implementing a more streamlined and transparent zoning approval process will speed up housing development.

Governments own significant parcels of land in urban and suburban areas. Identifying and releasing these lands for housing projects can make more space available for development.

Environmental considerations are becoming more important for buyers. By 2025, energy efficiency and sustainability in housing may be seen as more valuable, and governments could incentivize Green building practices.

What is it about your company that you would like prospective buyers to know as they go through the homebuying process?

Matthew Pantalone

One of things I’m most proud of here at National is our program of innovation that’s led by the research we do with our buyers. We deliver what our buyers tell us they want.

We started Panergy Wall Systems because we knew that energy costs were an issue. Panergy prefabricated walls save up to 15 per cent on energy usage, with three times less CO2 emissions, 80 per cent faster installation time and 90 per cent lighter weight. Also, there is far less waste, so we have cleaner sites and less environmental impact. We also have traditional brick and siding options, but Panergy is the kind of forward thinking we need for the future. Panergy has won BILD’s prestigious Fearless Innovator Award, as well as The OHBA’s Awards of Distinction Innovation Award. Panergy Wall Systems are available at National’s Whitehorn Woods Community.

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