market report
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TRREB: Home Buyers Experience Less Competition in May
May home sales continued at low levels, especially in comparison to last spring’s short-lived pick-up in market activity. Home buyers are still waiting for relief on the mortgage rate front. Existing homeowners are anticipating an uptick in demand, as evidenced by a year-over-year increase in new listings. With more choice compared to a year ago,…
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TRREB: More Choice for Home Buyers in April
April 2024 home sales were down in comparison to April 2023, when there was a temporary resurgence in market activity. New listings were up strongly year-over-year, which meant there was increased choice for home buyers and little movement in the average selling price compared to last year. Greater Toronto Area (GTA) REALTORS® reported 7,114 sales…
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TRREB: Selling Prices Up In March and Set to Accelerate This Spring
March 2024 home sales reported through TRREB’s MLS® System were lower than the March 2023 result, due in part to the statutory holiday Good Friday falling in March this year versus April last year. Despite a better-supplied market compared to last year, there was enough competition between buyers to see a moderate increase in the…
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Media Invite: TRREB Market Outlook and Year in Review Event in York Region
Media are invited to attend TRREB’s 2024 Market Outlook and Year in Review York Region event on Thursday, March 21, 2024, at 10:00 a.m.
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TRREB: Buyers Re-Enter the GTA Housing Market in February
Greater Toronto Area (GTA) home sales and new listings were up on an annual and monthly basis in February 2024. Selling prices also edged upward compared to a year earlier. Population growth and a resilient regional economy continued to support the overall demand for housing. Higher borrowing costs kept home sales below the February sales…
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What’s in Store for the 2024 Market Outlook – Find Out More
Curious about what’s in store this year for the Greater Toronto Area (GTA) real estate market? Wondering how shifting trends and economic factors might influence your buying or selling decisions? On Thursday, February 8, nearly 700 TRREB Members, industry partners, the media and policymakers attended TRREB’s 2024 Market Outlook & Year in Review event to find out…
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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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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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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.