Market News
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Population Growth and High Interest Rates Drive Rental Demand in GTA
Average condominium apartment rents continued to increase by double-digit annual rates in the fourth quarter of 2022. However, while market conditions remained tight enough to support very strong rent growth, there was more balance in the rental marketplace compared to the same period a year earlier in 2021.
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December 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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A Look Back at the 2022 GTA Housing Market
The Greater Toronto Area (GTA) housing market experienced a marked adjustment in 2022 compared to record levels in 2021. Existing affordability issues brought about by a lack of housing supply were exacerbated by sustained interest rate hikes by the Bank of Canada.
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TRREB to Release December and 2022 Annual Market Statistics and Related Commentary on Thursday, January 5
The Toronto Regional Real Estate Board (TRREB) will release December 2022 market statistics on Thursday, January 5 at 5:00 a.m. EST.
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November 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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Interest Rate Hikes Drive Down Home Sales and New Listings in November
Homeownership market activity in November continued to be influenced by the impact of higher borrowing costs on affordability. Sales were down markedly compared to the same period last year, following the trend that unfolded since the commencement of interest rate hikes in the spring. New listings were also down substantially from last year, and at…
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TRREB to Release November Market Statistics and Related Commentary on Tuesday, December 6
The Toronto Regional Real Estate Board (TRREB) will release November 2022 market statistics on Tuesday, December 6 th at 5:00 a.m. EST.
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October 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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TRREB: New GTA Listings Down While the Average Selling Price Levels off in October
Despite the continued housing market transition to a higher borrowing cost environment, the average selling price in the Greater Toronto Area (GTA) found some support near $1.1 million since the late summer. GTA home sales continued to adjust to substantially higher interest rates in October 2022, both on an annual and monthly basis. However, new…
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TRREB To Release October Numbers on Thursday
The Toronto Regional Real Estate Board (TRREB) will release October 2022 market statistics on Thursday, November 3rd, at 5:00 a.m. EDT
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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…