Market News
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TRREB: Tighter Market Conditions in January 2024 When Compared to the Previous Year
Home sales were up in January 2024 in comparison to January 2023. This annual increase came as some homebuyers started to benefit from lower borrowing costs associated with fixed rate mortgage products. New listings were also up year-over-year but by a lesser annual rate compared to sales. The resulting tighter market conditions when compared to…
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TRREB: Better-Supplied Condo Market in Q4 2023
Fourth quarter 2023 condominium apartment sales in the Greater Toronto Area (GTA) remained low historically, as the demand for ownership housing continued to be hampered by affordability concerns brought about by high borrowing costs. Buyers who were active in the market benefitted from a substantial amount of choice. This meant that average selling prices were…
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TRREB: Strong Population Growth Drives Rental Demand in Q4 2023
Condominium apartment leasing activity continued to be strong in the fourth quarter of 2023. The number of lease transactions reported through TRREB’s MLS® experienced a strong year-over-year increase. However, the number of units listed for rent was up by an even greater annual rate. This resulted in more choice for renters and a slower pace…
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December 2023 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: The 2023 GTA Housing Market: High Borrowing Costs and Growing Affordability Challenges
While the overall demand for housing remained buoyed by record immigration in 2023, more of this demand was pointed at the rental market. The number of Greater Toronto Area (GTA) home sales in 2023 came in at less than 70,000 due to affordability issues brought about by high mortgage rates.
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TRREB: Elevated Borrowing Costs Taking a Toll on Housing Affordability
High borrowing costs and uncertain economic conditions continued to weigh on Greater Toronto Area (GTA) home sales in November 2023. Sales were down on a year-over-year basis, while listings were up from last year’s trough in supply. With more choice in the market, selling prices remained basically flat year-over-year.
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October 2023 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: Higher Borrowing Costs See Buyers Remain on Hold
Lack of affordability and uncertainty remained issues for many would-be home buyers in the Greater Toronto Area (GTA) in October 2023. As a result, sales edged lower compared to last year. However, selling prices remained higher than last year’s levels.
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TRREB: Strong Population Growth Driving Rental Demand in Q3 2023
Demand for and supply of rental condominium apartments continued to grow in the Greater Toronto Area (GTA) during the third quarter of 2023, as reported by REALTORS® through TRREB’s MLS® System.
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TRREB: More Supply in the Condo Market for Q3 2023
The condominium apartment market became much more balanced over the past year. While Q3 2023 condo apartment sales were up year-overyear, growth in listings far outstripped growth in sales. The result was the average price edging lower providing some relief in the face of higher borrowing costs.
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September 2023 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: High Interest Rates Impacting the Market, but Population Growth Will Soon Spur Demand
The impact of high borrowing costs, high inflation, uncertainty surrounding future Bank of Canada decisions and slower economic growth continued to weigh on Greater Toronto Area (GTA) home sales in September. However, despite the market being better-supplied with listings, the average selling price was up year-over-year.