TORONTO, ONTARIO, June 3, 2022 – Similar to April results, May 2022 sales were down on a monthly and annual basis. Conversely, active listings at the end of May were up on a month-over-month and year-over-year basis. More balanced market conditions have provided buyers with more negotiating power. As a result, while benchmark and average home prices were up substantially compared to last year, selling prices trended lower on a month-over-month basis. Bank of Canada rate hikes, including the 50-basis point hike on June 1, are impacting home buyers in the short term. There is now a psychological aspect where potential buyers are waiting for a bottom in price. This will likely continue through the summer. However, as home buyers adjust to higher borrowing costs, housing demand will be supported by extremely low unemployment, high job vacancies, rising incomes and record immigration,'' said TRREB President Kevin Crigger.  (READ MORE)

TORONTO, ONTARIO, April 21, 2022 – .Condominium apartment sales remained strong historically in Q1 2022. Seller’s market conditions remained in place with the average selling price increasing by more than 20 per cent year-over-year. Greater Toronto Area (GTA) REALTORS® reported 7,932 sales through TRREB’s MLS® System in Q1 2022 – a decrease of 15.6 per cent compared to the record Q1 2021 result of 9,399 sales. (READ MORE)

BLOGS

What you need to know about Mortgage Stress Test Effective June 1, 2021

Property Tax Rates in GTA 2021

Toronto Housing Markets Charts 2020

What is the Home Buyers Plan (HBP)?

How is Stress Test Calculated?

What is First Time Buyers' Incentive?