Home sales were up in January 2024 in comparison to January 2023. This annual increase came as some home buyers started to benefit from lower borrowing costs associated with fixed rate mortgage products. New listings were also up year-over-year but by a lesser annual rate compared to sales. The resulting tighter market conditions when compared to the same period a year earlier, potentially points toward renewed price growth as we move into the spring market. “We had a positive start to... [read more]

Greater Toronto Area (GTA) home sales and new listings were up on an annual and monthly basis in February 2024. Selling prices also edged upward compared to a year earlier. Population growth and a resilient regional economy continued to support the overall demand for housing. Higher borrowing costs kept home sales below the February sales record reached in 2021. “We have recently seen a resurgence in sales activity compared to last year. The market assumption is that the Bank of Canada... [read more]

Greater Toronto Area (GTA) home sales increased strongly on a year-over-year basis in November 2024. Many buyers benefited from more affordable market conditions brought about by lower borrowing costs. New listings were also up compared to November 2023, but by a much lesser annual rate. This meant that market conditions tightened, resulting in overall average price growth compared to last year. “As we approach the end of 2024, I am pleased to report an improvement in housing market... [read more]

GTA REALTORS® Release October 2024 Stats Greater Toronto Area (GTA) home sales increased strongly year-overyear in October 2024. Over the same period, new listings were up, but by a lesser annual rate. The result was tighter market conditions compared to October 2023. The average selling price was up slightly on an annual basis. “While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved... [read more]

Greater Toronto Area (GTA) home sales increased year-over-year in September. Buyers were starting to take advantage of more affordable market conditions brought about by interest rate cuts and lower home prices. “As buyers take advantage of changes to mortgage lending guidelines and borrowing costs trend lower, home sales will steadily increase in relation to population growth. With every rate cut, a growing number of GTA households will afford a long-term investment in home... [read more]