A PROGRESSIVE MARCH: WHAT’S HAPPENING IN THE MARKET?
The latest report on March 2024 home sales through TRREB’s MLS® System shows steady progress in the real estate market despite the lower sales compared to March 2023. One of the contributing factors to this decline is the statutory holiday Good Friday, which fell in March this year instead of April last year. However, there […]
A MORE BALANCED SEPTEMBER: WHAT’S HAPPENING IN THE MARKET?
The GTA housing market faced some challenges in September, as high borrowing costs, inflation, and slower economic growth weighed on home sales. Nonetheless, despite the increase in listings supply, the average selling price remained higher than the previous year. Looking ahead, the short-term and medium-term outlooks for the GTA housing market appear to be somewhat […]
A Steady January: What’s Happening In The Market
As we move into the second month of 2023, the Greater Toronto Area (GTA) housing market in January recorded very similar numbers to that of December 2022. Average selling prices and number of sales remained steady compared to the previous month, however were down significantly compared to January of 2022. TRREB’s MLS System reported 3,100 […]
Wrapping Up 2022: What’s Happening In The Market?
As we move into the new year, we’re taking a look back at the Greater Toronto Area (GTA) 2022 home market trends. With a very strong start to the year, home sales trended lower during the second half of 2022 as a response to the Bank of Canada’s aggressive rate hikes. A combination of the […]
A Cautiously-Optimistic October: What’s Happening In The Market?
As the Greater Toronto Area (GTA) real estate market continues to adjust to higher borrowing costs, interesting trends have emerged since prices slowed in the spring. While GTA REALTORS reported only 4,961 home sales in the resale market in October 2022 – down 49.1% compared to October 2021 – this number is not significantly lower […]
A Calm July: What’s Happening In The Market?
Market conditions in the Greater Toronto Area (GTA) have been moving towards a more balanced state throughout the summer, and July was no exception. Compared to last year at the same time, buyers have found themselves with more options in the market, leading to a more moderate rate of annual growth. The Toronto Real Estate […]
A MEASURED JUNE: WHAT’S HAPPENING IN THE MARKET?
As we round out the second quarter of 2022, higher borrowing costs continue to impact the Greater Toronto Area’s (GTA) housing market. Seasonally, June tends to have a lower number of transactions than May, and this year we saw the same trend, with the number of total sales at 6,474, a 41% decrease compared to […]
A MORE BALANCED MAY: WHAT’S HAPPENING IN THE MARKET?
In May 2022, the Toronto real estate market saw more buyers responding to the increased cost of borrowing. The expectation of the Central Bank’s rate increase of 50 basis points – and the actual rate hike itself on June 1st – are causing some buyers to pause their home search in the short term as […]
A MORE ACCESSIBLE APRIL: WHAT’S HAPPENING IN THE MARKET?
In April, the Greater Toronto Area (GTA) housing market saw more buyers adjust to the Central Bank’s rate hikes. TRREB’s MLS System reported a total of 8,008 homes sold in April 2022, representing a 41.2 percent decrease year over year, and a 27 percent decrease compared to March 2022. With borrowing costs expecting to increase […]
MARCH CONTINUES THE MOMENTUM: WHAT’S HAPPENING IN THE MARKET?
As we wrap up the first quarter of 2022, the sales and growth trends that we saw in the housing market in January and February remained consistent in March. TRREB’s MLS System reported a total of 10,955 sales in March 2022, a 30% drop compared to March 2021, while home prices continued to grow, with […]