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TRREB RELEASES MAY RESALE HOUSING MARKET REPORT

Friday Jun 5th, 2020

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TORONTO, ONTARIO, June 3, 2020 – Toronto Regional Real Estate Board President Michael Collins released the following key housing market statistics for May 2020: TRREB MLS® System Sales and New Listings • Greater Toronto Area REALTORS® reported 4,606 sales through TRREB’s MLS® System in May 2020. This result was down by 53.7 per cent compared to May 2019. • While the number of sales was down substantially on a year-over-year basis due to the continued... [read more]

Price Outlook

Thursday Feb 13th, 2020

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    Market conditions tightened throughout 2019 and continued to do so in January 2020 as well. With little to no relief forecast on the listings front over the next year and demand expected to increase, it is difficult to forecast anything but further increases to average home prices for all major home types in 2020. The point forecast for the overall average selling price in 2020 is $900,000, close to a 10 per cent increase compared to the average of $819,319 reported for... [read more]

Ontario Changes Real Estate Rules For The First Time in 20 Years

Thursday Feb 13th, 2020

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Long outdated real estate legislation is being revamped to reflect today’s housing market . The new bill updates the regulations for realtors which includes more disclosure of competing bids for homes, new means of enforcement for ethical breaches, and various rules on business structures. The bill’s also being renamed from the 2002 Real Estate Business Brokers Act (REBBA) to The Trust in Real Estate Services Act. Practically speaking, it allows for more transparency in... [read more]

Market News - January 2020

Tuesday Feb 11th, 2020

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TORONTO, February 6, 2020 - TRREB President Michael Collins announced that Greater Toronto Area REALTORS® reported 4,581 home sales through TRREB’s MLS® System in January 2020 – up by 15.4 per cent compared to January 2019. On a preliminary seasonally adjusted basis, sales were up by 4.8 per cent compared to December 2019. “We started 2020 where 2019 left off, with very strong growth in the number of sales up against a continued dip in the number of new and available... [read more]

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