Market News
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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.
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August 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 Continue to Impact Housing Market in August
Higher borrowing costs, continued uncertainty about the economy and Bank of Canada decision making, and the constrained supply of listings resulted in fewer home sales in August 2023 compared to August 2022. The average selling price remained virtually unchanged over the same period. On a seasonally adjusted monthly basis, sales and average price edged lower.
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July 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: GTA Real Estate Market More Balanced in July
Greater Toronto Area (GTA) home sales, new listings and home prices were up in July 2023 in comparison to July 2022. On a seasonally adjusted basis, the market experienced more balance in July compared to June, with sales trending lower while new listings were up.
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TRREB: Condo Sales in the GTA Climb While New Listings and Prices Drop
Market conditions in the condominium apartment segment tightened markedly in the second quarter of 2023. Sales were up strongly on a year-over-year basis, whereas the number of new listings was down sharply. With more competition between buyers, average condominium apartment selling prices should climb above last year’s levels in the second half of this year.
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TRREB: Competition Continues between Renters as Rental Listings and Rents Rise
Average condominium apartment rents continued to well outpace the rate of inflation in the second quarter of 2023. Despite seeing an increase in the number of units listed for rent, competition between renters remained very strong. This competition underpinned higher average rents.
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June 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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Lack of Listings Led to Tighter GTA Market Conditions in June
Home sales and the average selling price in the Greater Toronto Area (GTA) in June 2023 remained above last year’s levels. Seasonally adjusted sales dipped on a month-over-month basis. The seasonally adjusted average selling price and the MLS® Home Price Index (HPI) Composite benchmark were up compared to the previous month.
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May 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: Strengthening Demand and Lack of Housing Supply Pushes up Prices in the GTA
The Greater Toronto Area (GTA) housing market continued to improve from a sales perspective in May 2023. Unfortunately, the supply of homes for sale did not keep up with the demand for ownership housing. Sales as a share of new listings were up dramatically compared to a year ago. This is a clear signal that…