News Releases
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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 Applauds the Homeowner Protection Act, 2024
The Toronto Regional Real Estate Board (TRREB) applauds the Government of Ontario’s introduction of the Homeowner Protection Act, 2024, aimed at enhancing consumer protections and preventing fraudulent activities in Ontario’s real estate market. TRREB commends the government’s proposal to also apply a 10-day cooling-off period to purchasers of new freehold homes, a protection already in place…
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TRREB Statement on Toronto City Council’s Approval of Townhomes and Small Six-Storey Residential Units Along Major Roads
The Toronto Regional Real Estate Board (TRREB) continues to champion the Expanding Housing Options in Neighbourhoods (EHON) initiative aimed at building more low-rise housing in residential neighbourhoods to meet the needs of our growing city. Last night’s decision by Toronto City Council to allow townhomes and small six-storey residential units with a maximum of 60…
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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: Condo Prices Remain Flat in Q1 2024
The Greater Toronto Area (GTA) condominium apartment sales increased moderately in the first quarter of 2024 relative to the first three months of 2023. However, over the same period the number of condo apartment listings increased by a greater annual rate. With buyers benefitting from more choice, the average condo selling price edged lower. Total…
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TRREB: Condo Rental Transactions Up in Q1 2024
The number of condominium apartment lease transactions reported through the Toronto Regional Real Estate Board’s (TRREB) MLS® System was up strongly year-over-year in the first quarter of 2024. Over the same period, the number of units listed for rent was up by an even greater annual rate. This resulted in more choice for renters and…
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TRREB Statement on the 2024 Federal Budget
To tackle Canada’s housing affordability crisis, governments need to do two things. First, they must build more homes of all types. Second, they must lower the taxes and fees Canadians pay to find an affordable place to call home. Today’s Federal Budget gets it right on supply but needs to be careful about the impact…
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TRREB Statement on Canada’s Housing Plan
Canada is in the middle of a historic housing affordability crisis and families need governments at all levels to come forward with policies that will lower costs for home buyers and get more homes built faster. Today’s announcement by Prime Minister Trudeau, Minister Freeland and Minister Fraser of Canada’s Housing Plan is a historic commitment…
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TRREB Statement on Bill 185 and the Province’s Efforts to Expedite Housing Development
In the face of a historic housing affordability crisis, Ontario needs to continue implementing bold policy changes that clear the way to building more homes. The provincial government is continuing its work to address the province’s housing supply and affordability crisis with another piece of housing legislation, Cutting Red Tape to Build More Homes Act,…
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Media Invite: TRREB Market Outlook and Year in Review Event in Simcoe County
Media are invited to attend TRREB’s 2024 Market Outlook and Year in Review Simcoe County event on Monday, April 8, 2024, at 10:00 a.m. Hear industry experts weigh in on TRREB’s housing outlook on average prices and sales for 2024, the need for housing supply with rising immigration, the latest buying and selling intentions, and…
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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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TRREB: The Province is Hearing Our Housing Calls – the New Ontario Budget
Ontario’s housing affordability crisis is leaving individuals and families on the sidelines of the Canadian dream of homeownership. To reverse this trend, governments must prioritize bold policy changes that will speed up the building of thousands of new homes. The release of the 2024 Ontario Budget provides critical support to the province’s effort to save…