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Market Update
New home market at typical activity level in October October was a busy time in the GTA new home market, as is typically the case every year. Single-family home sales, with 1,296 detached, linked and semi-detached houses and townhouses (excluding stacked townhouses) sold, were up 178% from last October’s near-record low and even with the 10-year average, according to Altus Group* Sales of...
CMHC's Housing Market Outlook (HMO) provides the forward-looking analysis Canada’s housing markets. Published annually, this helps anticipate emerging trends in Canada's new home, resale and rental housing markets at the national, provincial and local level. The HMO includes forecasts for important housing market variables such as starts, prices, resales, vacancy rates and rents. CMHC presents...
The GTA new home market was relatively strong in September, both in terms of new home sales and new project openings. There were 3,061 new home sales in September, according to Altus Group. This was up 73 per cent from September 2018 and 6 per cent above the 10-year average. Condominium apartments in low, medium and high-rise buildings, stacked townhouses and loft units accounted for 2,107 new...
Toronto Real Estate Board reported 7,825 sales through TREB's MLS® System in September 2019. This result represented strong year-over-year sales growth of 22 per cent 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 2019...
Toronto New Condo Prices Rise, While Detached Losses Get Bigger Greater Toronto new home sales are picking up, but buyers are mixed on prices. Altus Group data shows new home sales across Greater Toronto made a double digit climb in July. Even with the rise in sales, trade volumes are still light this year. Prices followed with a mixed move – condo prices accelerating gains, and detached prices...
If you’ve followed Toronto’s new condominium market over the past 10 years, it’s been quite a ride. At the start of 2009, it was all doom and gloom, as the U.S. housing market crash and global contagion had the Toronto development industry players holding their breath. Forecasts called for 4,000 new condo sales in the Greater Toronto Area (GTA) that year, and with 930 sales in the first quarter,...
Market Update June 5, 2019 - The year-over-year uptick in sales experienced so far in the second quarter of 2019 suggests that home buyers in the Greater Toronto Area has edged upwards since the fall. After a sluggish start to 2019, the second quarter appears to be reflecting a positive shift in consumer sentiment toward ownership housing. Households continue to see...
Market Update May 7, 2019 - There has been strong year-over-year growth in sales and this is obviously a good news story and likely represents some catchup from a slow start to the year. TREB's sales outlook for 2019 anticipates an increase relative to 2018. It should be noted, however, that growth in new listings is not keeping pace with sales. This points to the ongoing housing supply issue in the...
Resale Update April 3, 2019 - Toronto Real Estate Board announced that Greater Toronto Area reported 7,187 residential sales in March 2019. This result was inline with 7,188 sales reported in March 2018. For the first quarter of 2019, sales were down by one per cent compared to Q1 2018. "The OSFI stress test continues to impact home buyers' ability to qualify for a mortgage. TREB is still arguing...