News Releases
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TRREB: Ontario’s Home Renovation Savings Program – A Win for Homeowners and Energy Efficiency
High energy and construction costs are hurting families and individuals across the Greater Toronto Area (GTA). The Toronto Regional Real Estate Board (TRREB) commends Minister Lecce and the Government of Ontario for the launch of the Home Renovation Savings Program, coming into effect January 28, 2025. This new program is a win for homeowners, helping…
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Housing Market Gets More Affordable in 2024 with Lower Rates and Prices
The Greater Toronto Area (GTA) housing market experienced a transitionary year in 2024. Annual sales were up slightly compared to 2023, and new listings were up significantly year-over-year. Buyers benefited from substantial negotiating power on price, especially in the condominium apartment market. Average selling prices in 2024 dipped in comparison to 2023 as a result.…
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GTA Home Sales Up Substantially in November
Greater Toronto Area (GTA) home sales increased strongly on a year-over-year basis in November 2024. Many buyers benefitted from more affordable market conditions brought about by lower borrowing costs. New listings were also up compared to November 2023, but by a much lesser annual rate. This meant that market conditions tightened, resulting in overall average…
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TRREB Commends Mayor Del Duca’s Leadership in Reducing Development Charges
The Toronto Regional Real Estate Board (TRREB) commends the City of Vaughan and Mayor Del Duca for their decisive action to reduce development charges (DCs), a move that will significantly enhance housing affordability and supply in York Region. The new DCs officially took effect on November 19, 2024. Previously, the City’s published development charge rate for low-rise residential…
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TRREB Releases Report: “Breaking the Backlog: Restoring Fairness and Justice to Ontario’s Landlord and Tenant Board”
The Toronto Regional Real Estate Board (TRREB) launches a new report, “Breaking the Backlog: Restoring Fairness and Justice to Ontario’s Landlord and Tenant Board”, highlighting urgent reforms needed at the Landlord and Tenant Board (LTB) that addresses significant delays and inefficiencies in the system. TRREB’s report makes 10 recommendations to the province to strengthen public…
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Sales and Average Selling Price Increases in October
Greater Toronto Area (GTA) home sales increased strongly year-over-year in October 2024. Over the same period, new listings were up, but by a lesser annual rate. The result was tighter market conditions compared to October 2023. The average selling price was up slightly on an annual basis. “While we are still early in the Bank…
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TRREB Welcomes Ontario Government’s Measures to Support Fair Property Taxation and Increase Housing Supply
The Toronto Regional Real Estate Board (TRREB) applauds the Ontario government for introducing several key measures to support a fair and affordable property tax system while promoting housing supply across the province in the 2024 Fall Economic Statement. The government’s ongoing review of the property assessment and taxation system, which focuses on fairness, affordability, business competitiveness,…
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Condo Average Prices Drop Slightly in Q3 2024
Relatively high borrowing costs continue to impact the Greater Toronto Area (GTA) condominium apartment market segment in the third quarter of 2024. Sales were down on a year-over-year basis. Over the same period, the number of listings was up. This resulted in more choice and, therefore, negotiating power for buyers and a slightly lower average…
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Condo Rental Transactions Continue to Increase in Q3 2024
Strong population growth in the Greater Toronto Area (GTA) continue to drive marked year-over-year growth in condo rental transactions reported through TRREB’s MLS® System in the third quarter of 2024. Over the same period, the number of condo apartments listed for rent increased by a greater rate than transactions, providing more choice for renters and…
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TRREB: September Home Sales Improve Over Last Year
Greater Toronto Area (GTA) home sales increased year-over-year in September. Buyers were starting to take advantage of more affordable market conditions brought about by interest rate cuts and lower home prices. “As buyers take advantage of changes to mortgage lending guidelines and borrowing costs trend lower, home sales will steadily increase in relation to population…
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TRREB Marks New Era With the Appointment of Kevin Crigger as Associate CEO of TRREB and President of PropTx Innovations Inc.
Crigger’s strategic vision will help drive TRREB and PropTx forward Canada’s largest real estate board with over 73,000 Members, announces the appointment of Kevin Crigger as its new Associate CEO. Crigger will also serve as President of PropTx Innovations Inc., TRREB’s subsidiary providing MLS® and technology services to real estate boards and associations with a…
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TRREB Applauds Federal Government Mortgage Reforms
The Toronto Regional Real Estate Board (TRREB) welcomes the changes to mortgage rules announced by Deputy Prime Minister and Minister of Finance Chrystia Freeland. TRREB strongly supports the extension of 30-year insured mortgage amortizations to all first-time homebuyers which was limited to first time purchasers of new builds, and increasing the price cap for insured…