May 2019 GTA market outlook update for sales and prices for the balance of 2019; updated consumer intentions to purchase and sell; incidence of first time home buyers; impact of OSFI mortgage stress test and new listings trend, and more.
With Richmond Hill Council set to consider proposed amendments to their sign by-law to allow for the use of real estate open house signs on public property, the Toronto Real Estate Board (TREB), which includes and represents Realtor® members from Richmond Hill and across York Region, has released the results of an Ipsos poll showing strong public support for the use of open-house signs. Currently, Richmond Hill is unique in the Greater Toronto Area in not allowing open house signs on public property.
The new President of the Toronto Real Estate Board, Michael Collins, announced that Greater Toronto Area REALTORS® reported 8,860 sales through TREB's MLS® System in June 2019, representing a 10.4 per cent increase compared to June 2018. Over the same time period, total new listings remained at a similar level for the month of June and active listings at month-end were down by 5.7 per cent.
Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 9,749 condominium apartment rental transactions through TREB's MLS® System in the second quarter of 2019. This result was up by 14.9 per cent compared to Q2 2018.
The Toronto Real Estate Board (TREB) is giving its support to recommendations being considered by the City of Toronto’s Planning and Housing Committee, today, which would allow laneway suites in areas adjacent to public laneways zoned for low-rise residential uses across the City. TREB views this initiative as an important part of strategies to address housing supply issues in Toronto.
Toronto Real Estate Board President Garry Bhaura announced hat Greater Toronto Area REALTORS® reported 9,989 transactions through TREB’s MLS® System in May 2019.1 While this result represented a substantial increase of 18.9 per cent over the 15-year low in May 2018, it should be noted that the result was still below the average for month of May sales for the previous ten years, which stands at almost 10,300.
Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported a substantial year-over-year increase in home sales in April 2019. The number of residential transactions jumped by 16.8 per cent to 9,042 compared to 7,744 in April 2018. On a preliminary seasonally adjusted basis, sales were up 11.3 per cent compared to March 2019.