News
June, 2021
Future-Shaping Infrastructure Projects Will Enhance Ontario’s Competitiveness, Improve Quality of Life, Bring the Dream of Home Ownership Within Reach for Many
TORONTO, ON - Ontarians have a history of building great things. It is time for the next round of game-changing infrastructure investments. Today, the Ontario Real Estate Association (OREA) released The Ten Infrastructure Projects for a More Competitive Ontario, a research report written in partnership with KPMG Global Infrastructure Advisory, outlining large infrastructure projects that will support a robust economy, creating new jobs and opportunities across the province.
August 5th, 2021
TRREB Market Watch - JULY 2021
With almost 9,400 sales reported in July 2021, demand for ownership housing remained well-above average for the time of year despite being below the record July result set a year earlier. Market conditions actually tightened relative to July 2020, with sales accounting for a greater share of new listings compared to last year. The sellers’ market conditions sustained a double-digit annual rate of price growth.
June 3rd, 2021
Strong May GTA Home Sales Remain Below March Peak
Greater Toronto Area REALTORS® reported 11,951 sales in May 2021 – more than double the result from May 2020, the second full month of the pandemic. May 2021 sales were below the May 2016 record of 12,789 but remained well above the average May sales of 10,336 for the 2010 through 2019 period. Often, May is the strongest sales month in any given year; however, 2021 results bucked this trend, with May sales below the 15,646 deals reported in March.
June 3rd, 2021
TRREB Market Watch - MAY 2021
TORONTO, ONTARIO, June 3, 2021 – Residential transactions reported through TRREB’s MLS® System remained high in May 2021, but fell short of the 2016 record and were below this year’s March peak. Despite a slight ebb in sales over the last two months, market conditions remained tight enough to push the average selling price to an all-time record in May.
May 17th, 2021
Housing market moderates in April compared to March
Home sales recorded over Canadian MLS® Systems fell by 12.5% in April 2021 compared to the highest level ever recorded in March. Month-over-month declines in sales activity were observed in close to 85% of all local markets, including virtually all of B.C. and Ontario. In contrast, actual (not seasonally adjusted) sales activity posted a 256% year-over-year gain in April, reflecting the chasm between the best April ever in 2021 and the worst ever last year.
May 17th, 2021
TRREB Market Watch - APRIL 2021
April 2020 was the first full month of the pandemic, when the economic impact of COVID-19 was arguably the worst, which explains the year-over-year increase. We have also provided month over month trends for 2021 for better context and deeper market insights.
May 3rd, 2021
New Toronto condo sales near pre-pandemic levels
Toronto’s downtown condominium segment is staging a comeback with sales nearing pre-pandemic levels. New condo sales in the Greater Toronto Area totaled 5,385 units in the first quarter of 2021, which was just shy of the 5,593 figure from a year ago, according to a market report by real estate research firm Urbanation Inc.
April 22nd, 2021
TRREB News Release: Q1 Rentals in the GTA Reached a New Record Due to Pent-up Demand
In the first quarter of 2021, average condominium apartment rents were down on a year-over-year basis, continuing to reflect a supply imbalance in favour of renters. However, year-over-year growth in rental transactions outstripped growth in the number of units listed over the same period, suggesting that rental market conditions are starting to tighten in the Greater Toronto Area (GTA) once again.
April 19th, 2021
How Does the Canada Federal Budget Impact Home Buyers & Sellers?
While the federal budget won't make homes more affordable in Canada, average buyers and sellers won't be impacted by policy-induced market shocks either.
April 12th, 2021
'I don't see a crash': Cottage real estate in Kawartha Lakes continues to soar
Cottages in Kawartha Lakes listed in the last 60 days in the mid-$600,000s have generally sold for about 120 per cent of asking, says a local real estate agent.
April 13th, 2021
Canada is the No. 1 Country in the World, According to the 2021 Best Countries Report
WASHINGTON, April 13, 2021 /CNW/ -- For the first time, Canada takes the top spot overall in the 2021 Best Countries Report, a ranking and analysis project by U.S. News & World Report; BAV Group, a unit of global marketing communications company VMLY&R; and the Wharton School of the University of Pennsylvania.
April 5th, 2021
Hot housing propels Canadian confidence to record high
Canadian consumer confidence hit record highs for a third straight week amid soaring sentiment around housing, despite a third wave ripping through the country and forcing new lockdowns.
April 6th, 2021
Toronto home sales double in March, average price hits $1.1M
Canada's largest housing market logged another month of record sales and price gains in March. The head of the local real estate board is warning of potential unintended consequences as Bay Street pundits make the case for policy intervention.
April 6th, 2021
TRREB Market Watch - MARCH 2021
TORONTO, ONTARIO, April 6, 2021- For the third straight month of 2021, record home sales continued in March across the Greater Toronto Area (GTA) with buyers taking advantage of favourable borrowing costs and continued improvement in many sectors of the economy.
March 30th, 2021
Pattie Lovett-Reid: From first time buyers to luxury homes, Canada's real estate market is on fire
HUNTSVILLE, ONT. -- If you need evidence that the rich are getting richer, look no further than Sotheby's luxury real estate report highlights for 2021 so far. By way of reference, luxury real estate is typically a home that is valued within the top 10 ​per cent of a given market, which varies across the country. They range from detached homes to condos, located in key markets, finished with top of the line materials, and are often in close proximity to high-end amenities. Real estate in general has been on fire so far this year, and luxury real estate is no exception.
March 30th, 2021
GTA luxury market to remain scorching in 2021
The Greater Toronto Area’s luxury home market has seen remarkable gains since even before the COVID-19 pandemic, but even one year later, its ascension is nowhere near complete, according to a new Sotheby’s International Realty Canada report.
March 30th, 2021
Luxury home sales in Toronto surge
VIDEO: Luxury home sales in Toronto are outpacing the broader market according to Sotheby’s International Realty Canada that found sales of houses worth over $4 million rose 157 per cent in January and February from the year prior. BNN Bloomberg's Paul Bagnell has the details.
March 24th, 2021
How to check your credit score for free in Canada
TORONTO -- Credit scores are designed to predict if consumers will pay their bills on time and the higher the number, the better the risk you are to a potential lender. If you wanted to know your credit score, in the past you had to pay about $30 to a credit reporting agency, but now they will be available for free. "This is fantastic news for all consumers," Adriana Molina, Communications Manger with Credit Canada, said.
March 15th, 2021
Canadian housing markets set records again in February
Ottawa, ON, March 15, 2021 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales set another all-time record in February 2021.
March 15th, 2021
Market forecast to begin easing from current record levels over the second half of 2021 and into 2022
Ottawa, ON March 15, 2021 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate boards and associations. Current trends and the outlook for housing market fundamentals suggest activity will remain strong through 2021, resulting in a record number of sales. That said, activity is forecast to begin returning to more typical levels over time. 2022 is expected to see fewer MLS® transactions compared to 2021, while remaining above all other years on record.
March 10th, 2021
Canada's Mortgage Rates Are Rising Fast — Here’s How to Secure the Lowest Possible Rate
Rates are climbing for the first time in over a year, but bargains are still out there. Homebuyers and homeowners rushed to join the party when the COVID-19 crisis produced some of the cheapest mortgages Canadians had ever seen. Dirt-cheap interest rates, fewer home listings and high demand fuelled sales. As a result, a record-breaking 551,000 homes changed hands in 2020, according to the Canadian Real Estate Association. But now, five-year fixed mortgage rates are beginning to climb for the first time since before the pandemic hit. And, Canadians looking to capitalize on historically low rates may want to act now, before mortgage rates rise further. Here are six steps to nail down an ultra-low rate while you still can.
March 3rd, 2021
TRREB Market Watch - FEBRUARY 2021
TORONTO, ONTARIO, March 3, 2021 – Record home sales in the Greater Toronto Area (GTA) continued in February as buyers remained confident in their employment situations and took advantage of ultra-low borrowing costs. With multiple buyers continuing to compete for many available listings, double-digit annual price growth was the norm throughout the GTA, with stronger rates of growth in the suburbs surrounding the City of Toronto.
February 7th, 2021
How to avoid costly home renovation mistakes
Planning a home improvement project requires careful project outlines, a predetermined budget and adequate financing. All too often, though, homeowners are in the midst of a renovation when they realize they’ve made one or more costly home improvement mistakes. These re-modeling mistakes can cause delays, unplanned costs and even the need to secure additional emergency financing. It’s important to educate yourself on the top five renovation mistakes to avoid when planning a home improvement project. Steer clear of these and you’ll have a good chance of completing the project without any major hiccups.
January 11th, 2021
Despite concerns about the economy, majority of Canadians continue to believe in the strength of the housing market: RBC poll
TORONTO, January 11, 2021 - Canadians’ belief in the strength of the real estate market held steady in December, despite concerns around the overall economy, according to the RBC Home Buying Sentiment Poll. High home values also continued to drive potential homebuyers outside of major metropolitan areas in search of affordability and larger properties.