trebadmin
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Condo Average Prices Drop Slightly in Q3 2024
Relatively high borrowing costs continue to impact the Greater Toronto Area (GTA) condominium apartment market segment in the third quarter of 2024. Sales were down on a year-over-year basis. Over the same period, the number of listings was up. This resulted in more choice and, therefore, negotiating power for buyers and a slightly lower average…
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Condo Rental Transactions Continue to Increase in Q3 2024
Strong population growth in the Greater Toronto Area (GTA) continue to drive marked year-over-year growth in condo rental transactions reported through TRREB’s MLS® System in the third quarter of 2024. Over the same period, the number of condo apartments listed for rent increased by a greater rate than transactions, providing more choice for renters and…
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TRREB Encourages All Policymakers to Consider Lower Taxes for Home Buyers and Sellers
Families and individuals living in the Greater Toronto Area (GTA) pay some of the highest taxes on the purchase of a home in North America. In Toronto, buyers can expect a double land transfer tax, development charges and sales taxes, totalling over $200,000 in taxes and fees on the average priced home. Cutting taxes for…
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TRREB Submission on City of Toronto Avenues Review
TRREB has submitted feedback to the City of Toronto recognizing the potential of the City’s Avenues Review initiative to revitalize key corridors and add up to 160,000 new housing units. Designated Avenues, characterized by a mix of residential, commercial, and institutional uses, should guide sustainable growth and enhance urban design. Key Takeaways Areas of Concern…
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September 2024 Housing Market Charts Available
A series of charts summarizing key residential statistics for the GTA, including an affordability indicator and time series for price, new listings and sales.
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TRREB: September Home Sales Improve Over Last Year
Greater Toronto Area (GTA) home sales increased year-over-year in September. Buyers were starting to take advantage of more affordable market conditions brought about by interest rate cuts and lower home prices. “As buyers take advantage of changes to mortgage lending guidelines and borrowing costs trend lower, home sales will steadily increase in relation to population…
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Unpacking Provincial Housing Commitments
Ontario continues to face a housing supply shortage along with affordability concerns. To tap into expert opinions on this critical issue, we invited Steve Adler, Senior Director of Public Affairs at NATIONAL Public Relations, and John Michael McGrath, columnist, reporter, and podcaster at TVO.org, to TRREB’s Ready to Real Estate podcast. Together they discussed Ontario’s housing…
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TRREB Applauds OSFI’s Decision to Eliminate Mortgage Stress Tests at Renewal for Uninsured Mortgages
The Toronto Regional Real Estate Board (TRREB) commends the Office of the Superintendent of Financial Institutions (OSFI) for its recent decision to eliminate the mortgage stress test requirement for uninsured borrowers switching lenders at renewal. This change is a significant step forward in ensuring that all Canadian homeowners, regardless of whether their mortgages are insured…
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TRREB Applauds Federal Government Mortgage Reforms
The Toronto Regional Real Estate Board (TRREB) welcomes the changes to mortgage rules announced by Deputy Prime Minister and Minister of Finance Chrystia Freeland. TRREB strongly supports the extension of 30-year insured mortgage amortizations to all first-time homebuyers which was limited to first time purchasers of new builds, and increasing the price cap for insured…
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August 2024 Housing Market Charts Available
A series of charts summarizing key residential statistics for the GTA, including an affordability indicator and time series for price, new listings and sales.
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TRREB: GTA Housing Market Becoming More Affordable
Greater Toronto Area (GTA) home sales were down on a year-over-year basis in August 2024. New listings were up slightly over the same period. While the region’s housing market remained well-supplied in August, average home prices only edged slightly lower compared to August 2023. “The Bank of Canada’s rate cut announced on September 4 will…
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Million Dollar Open House: Transforming Your Real Estate Career
Open houses are an effective way to showcase a client’s property to potential buyers. REALTORS® should treat an open house like a business with dedication, careful pre-event planning, positive interactions, and thoughtful post-event follow-ups. Real estate coach Mary-Anne Gillespie joins TRREB’s Ready to Real Estate podcast to discuss the power of open houses with TRREB’s Chief Market Analyst…