TORONTO, ONTARIO, July 6, 2021 –Greater Toronto Area REALTORS® reported 11,106 sales through TRREB’s MLS® System in June 2021 – up by 28.5 per cent compared to June 2020. Looking at the GTA as a whole, year-over-year sales growth was strongest in the condominium apartment segment, both in the City of Toronto and some of the surrounding suburbs. On a month-over-month basis, both actual and seasonally adjusted sales continued to trend lower in June.
“We have seen market activity transition from a record pace to a robust pace over the last three months. While this could provide some relief for home buyers in the near term, a resumption of population growth based on immigration is only months away. While the primary focus of policymakers has been artificially curbing demand, the only longterm solution to affordability is increasing supply to accommodate perpetual housing needs in a growing region,” said TRREB President Kevin Crigger.  (READ MORE)

TORONTO, ONTARIO, July 15, 2021 – Second quarter 2021 GTA condominium apartment sales were up substantially compared to Q2 2020, but ebbed slightly compared to Q1 2021, following the broader market trend. Competition between buyers continued to accelerate compared to last year, which led to year-over-year and quarter-over-quarter average price
increases.

Greater Toronto Area REALTORS® reported 8,793 condominium apartment sales in the GTA in Q2 2021 – up by 155 per cent compared to Q2 2020, but down by approximately six per cent compared to Q1 2021, following the broad-based slowdown in home sales since March. “There is no doubt that the condominium apartment segment has improved markedly over the past six months, after lagging the low-rise market segments in the second half of 2020. Consumer polling conducted by Ipsos for TRREB suggested that about 40 per cent of buyers in 2021 would be first-time buyers. For many first-time buyers, their entry point into homeownership is the condo market so we expect further upward movement this year with accelerated migration back to cities and heightened immigration,” said TRREB President Kevin Crigger.(READ MORE)

BLOGS

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