News Releases
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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.
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TRREB: GTA Real Estate Market More Balanced in July
Greater Toronto Area (GTA) home sales, new listings and home prices were up in July 2023 in comparison to July 2022. On a seasonally adjusted basis, the market experienced more balance in July compared to June, with sales trending lower while new listings were up.
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TRREB: Condo Sales in the GTA Climb While New Listings and Prices Drop
Market conditions in the condominium apartment segment tightened markedly in the second quarter of 2023. Sales were up strongly on a year-over-year basis, whereas the number of new listings was down sharply. With more competition between buyers, average condominium apartment selling prices should climb above last year’s levels in the second half of this year.
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TRREB: Competition Continues between Renters as Rental Listings and Rents Rise
Average condominium apartment rents continued to well outpace the rate of inflation in the second quarter of 2023. Despite seeing an increase in the number of units listed for rent, competition between renters remained very strong. This competition underpinned higher average rents.
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Lack of Listings Led to Tighter GTA Market Conditions in June
Home sales and the average selling price in the Greater Toronto Area (GTA) in June 2023 remained above last year’s levels. Seasonally adjusted sales dipped on a month-over-month basis. The seasonally adjusted average selling price and the MLS® Home Price Index (HPI) Composite benchmark were up compared to the previous month.
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TRREB Donates $50K to Canadian Red Cross for the Alberta Fires Appeal
TRREB Members continue to offer a helping hand in times of crisis, especially here at home helping our fellow Canadians. On behalf of Members, TRREB is donating $50,000 to the Canadian Red Cross for the Alberta Fires Appeal, as part of CREA’s REALTORS® Care fundraising campaign. Thousands of Albertans are currently displaced from their homes…