Toronto Real Estate Board President Tim Syrianos announced today, October 4, 2017 that Greater Toronto Area REALTORS® reported 6,379 sales through TREB’s MLS® System in September 2017.  This result was down by 35% compared to September 2016. The number of new listings entered into TREB’s MLS® System amounted to 16,469 in September – up by 9.4% year-over-year. “The improvement in listings in September compared to a year earlier suggests that home owners... [read more]

The Canadian Real Estate Association (CREA) previous forecast published in September identified changes to mortgage rules as a key downside risk. Indeed, this risk materialized in October when tighter mortgage regulations that take effect next year were announced. Among other things, the new rules make it tougher for would-be homebuyers with more than a 20% down payment to qualify for a mortgage. Recent research by the Bank of Canada suggests that once they come into effect, tightened... [read more]

Last Friday, August 3, 2018 – Toronto Real Estate Board President Garry Bhaura announced strong growth in the number of home sales and the average selling price reported by Greater Toronto Area REALTORS® in July 2018. “Home sales result in substantial spin-off benefits to the economy, so the positive results over the last two months are encouraging. However, no one will argue that housing supply remains an issue. The new provincial government and candidates for the... [read more]

“Home sales reported through TREB’s MLS® System have a substantial impact on the Canadian economy. A study conducted by Altus for TREB found that, on average, each home sale reported through TREB resulted in $68,000 in spin-off expenditures accruing to the economy. With sales substantially lower than the 2016 record peak over the last two years, we have experienced a hit to the economy in the billions of dollars, in the GTA alone. This hit has also translated into lower... [read more]

On October 3rd, 2019 Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,825 sales through TREB’s MLS® System in September 2019. This result represented strong year-over-year sales growth of 22% compared to 6,414 sales reported in September 2018. It is important to note, however, that sales remain well-below the record September 2016 peak of more than 9,800 sales. On a preliminary seasonally adjusted basis, the September... [read more]