News Releases
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TRREB: The 2023 GTA Housing Market: High Borrowing Costs and Growing Affordability Challenges
While the overall demand for housing remained buoyed by record immigration in 2023, more of this demand was pointed at the rental market. The number of Greater Toronto Area (GTA) home sales in 2023 came in at less than 70,000 due to affordability issues brought about by high mortgage rates.
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TRREB Statement on Toronto Housing Funding Announcement
With Toronto’s ambitious goal to build 285,000 new homes by 2031, it’s essential that the City partner with other levels of government to increase housing supply and build attainable homes that individuals can afford.
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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: Tight Market Conditions Push up Competition in the GTA
Greater Toronto Area (GTA) housing market conditions tightened in March 2023. Sales accounted for an increased share of listings in comparison to March 2022, suggesting that competition between buyers is on the rise. The average sale price was above the average list price for the first time since May 2022.