News Releases
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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 Statement on New Deal Between Toronto and Ontario
The City of Toronto is the engine that drives Ontario’s economy. When Toronto does well, Ontario does well. However, Toronto has a housing supply crisis, and we desperately need to build more homes if we are going to protect the Canadian dream of home ownership in our City for future generations.
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Statement From the London St. Thomas Association of REALTORS® (LSTAR) and PropTx
The London St. Thomas Association of REALTORS® (LSTAR) is pleased to announce that we are joining the PropTx MLS® Service. LSTAR is thrilled with today’s announcement as this move empowers LSTAR Members with enhanced tools and expanded access to invaluable real estate market data. “Our unwavering objective is to ensure that our valued Members receive…
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TRREB Statement on Federal Fall Economic Statement
The Toronto Regional Real Estate Board (TRREB) applauds and welcomes today’s fall economic statement offering several important housing focused initiatives. We especially commend the federal government for listening to many industry stakeholders, including TRREB, in establishing a new Canadian Mortgage Charter. This Charter significantly includes the removal of the stress test requirements for insured mortgage…
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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 Awards $242,000 to Date with Scholarship Initiative
Each year the Toronto Regional Real Estate Board (TRREB) recognizes high school students who are pursuing post-secondary education with the Past President’s Scholarship. Since the inception of the program in 2007, 66 deserving students have received a total of $242,000 to put towards realizing their dreams.
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TRREB Awards Members for Making an Impact
Four Toronto Regional Real Estate Board (TRREB) Members are in the spotlight for going above and beyond in the real estate industry and for outstanding contributions to their communities. TRREB is recognizing these Members, who tirelessly dedicate their time in the pursuit of a brighter tomorrow through selfless acts and good deeds. We are honouring…
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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.
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TRREB Welcomes Council Decision to Request a Report to Study First Time Home Buyer Land Transfer Tax Rebate
The Toronto Regional Real Estate Board (TRREB) welcomes the City of Toronto’s much anticipated revenue tools report’s consideration of a multi-year approach to property tax rates. Property tax is a more equitable, stable and appropriate means of taxation for the city, rather than increasing the reliance on an unpredictable revenue source such as the Municipal…
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TRREB: Higher Borrowing Costs Continue to Impact Housing Market in August
Higher borrowing costs, continued uncertainty about the economy and Bank of Canada decision making, and the constrained supply of listings resulted in fewer home sales in August 2023 compared to August 2022. The average selling price remained virtually unchanged over the same period. On a seasonally adjusted monthly basis, sales and average price edged lower.