News Releases
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GTA Condo Market Sees Resurgence Compared to Last Year
The condominium apartment market has experienced strong growth in 2021 and this continued in the third quarter. Sales in Q3 were up substantially compared to the same period last year. In addition, the condo inventory that built up during the initial phases of COVID has been more than absorbed with listings down significantly compared to…
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Tight GTA Housing Market Conditions Sustain Strong Price Growth
September marked the transition from the slower summer market to the busier fall market in the in the Greater Toronto Area (GTA). Every year, we generally see an uptick in sales, average selling price and listings after Labour Day, and September 2021 was no different. Sales increased relative to August and were also at the…
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How the Federal Parties Plan to Tackle Housing as Part of Their Election Promises
The main federal political parties have released their housing plans. TRREB is encouraged by the attention being given by all parties to housing affordability challenges, something that TRREB has consistently advocated for many years. The affordability challenges we see today are fundamentally rooted in the fact that housing supply has not kept up with population…
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GTA Housing Demand Remains Strong In August
The Toronto Regional Real Estate Board (TRREB) is reporting the third-best sales result on record for the month of August. While the market has taken its regular summer breather, it is clear that the demand for ownership housing remains strong. At the same time, the supply of listings is down. The result has been tighter…
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TRREB Calls for Choice and Privacy following Election Pledge on Offer Process in Housing Transactions
In response to the federal election announcement to ban “blind bidding” in the home buying and selling process, TRREB President Kevin Crigger has this to say: “The Toronto Regional Real Estate Board (TRREB) is encouraged by the attention being given by federal political parties, to housing affordability challenges which TRREB has been sounding the alarm…
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July Numbers Show Strong Demand Continues For Home Ownership In GTA
With almost 9,400 sales reported in July 2021, demand for ownership housing remained well-above average for the time of year despite being below the record July result set a year earlier. Market conditions actually tightened relative to July 2020, with sales accounting for a greater share of new listings compared to last year. The sellers’…
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Q2 Rental Transactions Double Year-over-year; Average Rents Still Lower
The number of condominium apartment rental transactions in Q2 2021 was more than double the number reported in Q2 2020. The number of rentals was also up compared to Q1 2021 by 13.3 per cent. Growth in rental transactions also outstripped growth in the number of units listed, both on a year-over-year and quarter-over-quarter basis.
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Strong Condo Demand Continued in Q2 2021
Second quarter 2021 GTA condominium apartment sales were up substantially compared to Q2 2020, but ebbed slightly compared to Q1 2021, following the broader market trend. Competition between buyers continued to accelerate compared to last year, which led to year-over-year and quarter-over-quarter average price increases.
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TRREB Calls on City Council to Ensure Appropriate Exemptions for New Vacant Home Tax and to Keep Home Energy Rating Program Voluntary for Homeowners
As City Council meets today, the Toronto Regional Real Estate Board (TRREB) is urging Councillors to carefully consider the implementation details of two items on Council’s agenda: a new Vacant Home Tax (VHT) and a new home energy rating and disclosure program. “As is often the case, the devil is in the details. The new…
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TRREB Updates Its Sales Forecast and Average List Price Upwards
June home sales were up compared to last year, but remained below the March 2021 peak and were lower than the number of transactions reported for May 2021, consistent with the regular seasonal trend. The average selling price in June increased by double digits compared to last year as well, but the annual rate of…