Latest news with #ElechiaBarry-Sproule
Toronto Sun
06-08-2025
- Business
- Toronto Sun
Greater Toronto housing market sees best July in four years: TRREB
Published Aug 06, 2025 • 1 minute read A park bench at Riverdale Park East overlooking the downtown skyline along Broadview Ave. in Toronto on Oct. 5, 2022. Photo by Ernest Doroszuk / Toronto Sun Greater Toronto Area-home sales rose 10.9 per cent in July compared with a year earlier as 6,100 properties changed hands, the most activity recorded in the month since 2021. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The Toronto Regional Real Estate Board says sales were up 13 per cent from June on a seasonally adjusted month-over-month basis, as improved affordability driven by lower prices and borrowing costs 'is starting to translate into increased home sales.' The average selling price decreased 5.5 per cent compared with a year earlier to $1,051,719, and the composite benchmark price, meant to represent the typical home, was down 5.4 per cent year-over-year. TRREB president Elechia Barry-Sproule says 'it's clear that a growing number of households are finding affordable options for home ownership' but cautions that more relief is required to spur the market, 'particularly where borrowing costs are concerned.' The board says 17,613 properties were newly listed in the GTA last month, up 5.7 per cent compared with July 2024. The number of active listings reached 30,215 last month, up 26.2 per cent from last year's inventory of 23,936 homes. Columnists Sunshine Girls World Sunshine Girls Opinion
Reuters
06-08-2025
- Business
- Reuters
Toronto home sales post biggest increase in nine months in July
TORONTO, Aug 6 (Reuters) - Greater Toronto Area home sales rose for a fourth straight month in July and prices edged lower, Toronto Regional Real Estate Board data showed on Wednesday. Seasonally adjusted sales increased 13% on a month-over-month basis to 5,744 units. That marked the biggest increase since October 2024, while it was the best home sales result for the month of July since 2021, according to TRREB. TRREB's home price index fell 0.2% to C$979,000 ($710,449.93), which was the seventh decline in the last eight months. The Greater Toronto Area (GTA) includes Toronto, Canada's most populous city, and four surrounding regional municipalities. "Improved affordability, brought about by lower home prices and borrowing costs, is starting to translate into increased home sales," TRREB President Elechia Barry-Sproule said in a statement. "More relief is required, particularly where borrowing costs are concerned, but it's clear that a growing number of households are finding affordable options for homeownership." The Bank of Canada last week left its benchmark interest rate on hold at 2.75% but opened the door to cutting interest rates if the upward price pressures from trade disruptions are contained. On a year-to-year basis, the price index was down 5.4%, while sales jumped 10.9% and new listings were up 5.7%. ($1 = 1.3780 Canadian dollars)
Global News
06-08-2025
- Business
- Global News
Greater Toronto housing market sees best July in four years: real estate board
Greater Toronto Area-home sales rose 10.9 per cent in July compared with a year earlier as 6,100 properties changed hands, the most activity recorded in the month since 2021. The Toronto Regional Real Estate Board says sales were up 13 per cent from June on a seasonally adjusted month-over-month basis, as improved affordability driven by lower prices and borrowing costs 'is starting to translate into increased home sales.' The average selling price decreased 5.5 per cent compared with a year earlier to $1,051,719, and the composite benchmark price, meant to represent the typical home, was down 5.4 per cent year-over-year. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy TRREB president Elechia Barry-Sproule says 'it's clear that a growing number of households are finding affordable options for home ownership' but cautions that more relief is required to spur the market, 'particularly where borrowing costs are concerned.' The board says 17,613 properties were newly listed in the GTA last month, up 5.7 per cent compared with July 2024. Story continues below advertisement The number of active listings reached 30,215 last month, up 26.2 per cent from last year's inventory of 23,936 homes.
Hamilton Spectator
05-07-2025
- Business
- Hamilton Spectator
Toronto-area home prices plunge more than 5% in June — the largest year-over-year drop in years
Toronto-area home prices swooned by more than five per cent annually in June — the largest annual price drop the city has seen in more than two years as buyers continue to flex their negotiating power. It's the fifth consecutive year-over-year decline for GTA house prices, with the total decline from the February 2022 peak now sitting at more than 20 per cent. The average selling price fell to $1.101 million in June, a 5.4 per cent year-over-year fall and the largest annual price decline since April 2023, which saw a 7.8 per cent price drop. Detached homes were hit particularly hard, with a 6.5 per cent drop year-over-year. Despite some month-over-month momentum, which saw sales increase slightly in June compared with May, many would-be homebuyers remained on the sidelines due to economic uncertainty, according to the Toronto Regional Real Estate Board's (TRREB) June report. Sales declined slightly by 2.4 per cent annually in June. 'The GTA housing market continued to show signs of recovery in June. With more listings available, buyers are taking advantage of increased choice and negotiating discounts off asking prices,' TRREB president Elechia Barry-Sproule said in the report. 'Combined with lower borrowing costs compared to a year ago, home ownership is becoming a more attainable goal for many households in 2025.' Historically, April, May or June will have the best month in terms of sales for the year, and this year June fared better than the spring months, said TRREB's chief information officer, Jason Mercer. Interest rates are lower than this time last year and the average price of homes has fallen, offering some relief for buyers, he added. New listings in June amounted to 19,839 — up by 7.7 per cent year-over-year, with the sales-to-new-listings ratio hitting 31 per cent, meaning it's a buyers' market, where buyers have more choice and ability to negotiate better terms. The economic turbulence with the U.S. is impacting consumer confidence, leading to fewer people buying and selling, said Mercer. 'A firm trade deal with the U.S. accompanied by an end to cross-border sabre-rattling would go a long way to alleviating a weakened economy and improving consumer confidence,' he said. On top of this, 'two additional interest rate cuts would make monthly mortgage payments more comfortable for average GTA households. This could strengthen the momentum experienced over the last few months and provide some support for selling prices.' In April and June, the Bank of Canada held its key interest rate at 2.75 per cent. If the central bank were to drop its rate to 2.25 per cent, it would have a meaningful impact, Mercer said. In Toronto, the 6.5 per cent year-over-year drop in detached home prices was the largest decline, followed by townhomes at 5.3 per cent, condos at 4.3 per cent, and semi-detached homes at 0.4 per cent. Prices for detached homes could have fallen because fewer 'higher-end' or luxury homes sold this year compared with last, Mercer said. For sales, semi-detached homes saw the largest sales increase year-over-year by almost 19 per cent. That's because the 'stock is at a more affordable price point for single-family homes' and for 'first-entry buyers,' he added. The Bank of Canada's next interest rate announcement is July 30, and if it cuts its key interest rate it could provide some momentum heading into the fall market.
Toronto Sun
04-07-2025
- Business
- Toronto Sun
GTA home sales down year-over-year in June, listings up: real estate board
Published Jul 04, 2025 • 1 minute read A "for sale" sign is pictured outside a home in this undated file photo. Photo by TYLER ANDERSON / POSTMEDIA TORONTO — Greater Toronto Area-home sales ticked 2.4 per cent lower in June compared with a year earlier as 6,243 properties changed hands, while new listings rose. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The Toronto Regional Real Estate Board says sales were up 8.1 per cent from May on a seasonally adjusted month-over-month basis, as the housing market 'continued to show signs of recovery.' The board says 19,839 new properties were listed in the GTA last month, up 7.7 per cent compared with last year. TRREB president Elechia Barry-Sproule says that with more listings available and lower borrowing costs than this time last year, home ownership is becoming more attainable and buyers have been negotiating discounts on asking prices. The average selling price decreased 5.4 per cent compared with a year earlier to $1,101,691, and the composite benchmark price, meant to represent the typical home, was down 5.5 per cent year-over-year. Active listings hit 31,603 last month, up 30.8 per cent from June 2024's inventory of 24,169 homes. World Editorial Cartoons Toronto & GTA Toronto & GTA Toronto Maple Leafs
