Market News
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Strong Rental Demand and Lack of Supply Driving up Rents
Double-digit year-over-year rent increases continued to be the norm in Q3 2022. With many would-be first-time buyers temporarily on the sidelines in the Greater Toronto Area (GTA) due to higher borrowing costs, rental demand has remained strong in the face of falling supply. Competition for condo rentals has intensified as a result, and negotiated rents…
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GTA Condo Sales and Listings Down
Following the ownership market as a whole, Q3 2022 condominium apartment sales were off by approximately 46 per cent compared to Q3 2021. Despite there being substantially more balance in the market in the third quarter relative to a year earlier, the average selling price was up year-over-year, albeit by less than the current pace…
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September 2022 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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Supply Remains an Issue Despite Impact of Higher Mortgage Rates
The Greater Toronto Area (GTA) housing market continued its adjustment to higher borrowing costs in September 2022. Sales for the month reached 5,038, but were down by 44.1 per cent compared to September 2021. New listings were also down on a year-over-year basis by 16.7 per cent to 11,237.
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TRREB to Release September Numbers and New Ipsos Polling Results Related to Housing Supply and Municipal Policies on Wednesday
The Toronto Regional Real Estate Board (TRREB) will release September 2022 market statistics on Wednesday, October 5 at 5:00 a.m. EDT. TRREB’s news release will highlight market trends.