Immigration is the driver for overall housing demand in the Greater Toronto Area (GTA). But, will current transit and transportation infrastructure projects be enough to accommodate population growth over the long term? TRREB’s widely read 2023 Market Outlook & 2022 Year in Review report and interactive digital digest uncovers what’s next for the real estate market. Policymakers need to take…
As we moved from 2022 into 2023, the Greater Toronto Area (GTA) housing market unfolded as expected. The number of January sales and the overall average selling price were similar to December 2022. On a year-over-year basis, both sales and prices were down markedly, continuing to highlight the impact of higher borrowing costs on affordability…
The Toronto Regional Real Estate Board (TRREB) will release January 2023 market statistics on Friday, February 3 at 5:00 a.m. EST.
Selling prices for condominium apartments bucked the overall downward trend in the housing market during the fourth quarter of 2022. The average selling price in Q4 2022 stayed in line with the average in Q4 2021.
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.
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.
The Toronto Regional Real Estate Board (TRREB) will release December 2022 market statistics on Thursday, January 5 at 5:00 a.m. EST.
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…
The Toronto Regional Real Estate Board (TRREB) will release November 2022 market statistics on Tuesday, December 6 th at 5:00 a.m. EST.
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…
The Toronto Regional Real Estate Board (TRREB) will release October 2022 market statistics on Thursday, November 3rd, at 5:00 a.m. EDT
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…