Latest news with #TRREB
CTV News
3 days ago
- Business
- CTV News
ADVERTISEMENT Video Hot Property for Thursday, June 5, 2025 The panel discuss the Bank of Canada's interest rate hold and May data from TRREB.
The panel discuss the Bank of Canada's interest rate hold and May data from TRREB.
Yahoo
5 days ago
- Business
- Yahoo
Toronto home sales rise the most in four months on improved affordability
By Fergal Smith TORONTO (Reuters) -Greater Toronto Area home sales in May posted their biggest increase in four months, and prices edged higher as homebuyers took advantage of the recent improvement in affordability, Toronto Regional Real Estate Board data showed on Wednesday. Seasonally adjusted sales increased 8.4% on a month-over-month basis to 4,693 units, the second straight month of gains and the biggest increase since January. TRREB's home price index edged up 0.1% to C$992,800 ($723,615), which was the first increase since November. The Greater Toronto Area (GTA) includes Toronto, Canada's most populous city, and four surrounding regional municipalities. 'Looking at the GTA as a whole, homebuyers have certainly benefited from greater choice and improved affordability this year," TRREB President Elechia Barry-Sproule said in a statement. On a year-to-year basis, the price index was down 4.5%, while sales declined 13.3% and new listings were up 14%. Lower borrowing costs have also contributed to improved affordability. The Bank of Canada has lowered its benchmark interest rate by 2-1/4 percentage points since June 2024 to support the economy, which is expected to slow as the U.S. wages a trade war. "All else being equal, sales should be up relative to 2024," said Jason Mercer, TRREB's Chief Information Officer. "The issue is a lack of economic confidence." Canada sends about 75% of its exports to the U.S. ($1 = 1.3720 Canadian dollars) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
GTA Homebuyers Benefited From More Listings in May
TORONTO, June 04, 2025 (GLOBE NEWSWIRE) -- The Greater Toronto Area (GTA) housing market experienced an improvement in affordability in May 2025 relative to the same period a year earlier. With sales down and listings up, homebuyers took advantage of increased inventory and negotiating power. 'Looking at the GTA as a whole, homebuyers have certainly benefited from greater choice and improved affordability this year. However, each neighbourhood and market segment have their own nuances. Buyers considering a home purchase should connect with a REALTOR® who is knowledgeable about their preferred area and property type. In today's market, working with a REALTOR® who brings expertise, the right tools, and a strong network is essential,' said Toronto Regional Real Estate Board (TRREB) President Elechia Barry-Sproule. GTA REALTORS® reported 6,244 home sales through TRREB's MLS® System in May 2025 – down by 13.3 per cent compared to May 2024. New listings entered into the MLS® System amounted to 21,819 – up by 14 per cent year-over-year. On a seasonally adjusted basis, May home sales were up month-over-month compared to April 2025. This was the second monthly increase in a row. New listings were also up compared to April, but by a lesser monthly rate than sales, suggesting a slight tightening in market conditions. 'Homeownership costs are more affordable this year compared to last. Average selling prices are lower, and so too are borrowing costs. All else being equal, sales should be up relative to 2024. The issue is a lack of economic confidence. Once households are convinced that trade stability with the United States will be established and/or real options to mitigate our reliance on the United States exist, home sales will pick up. Further cuts in borrowing costs would also be welcome news to homebuyers,' said Jason Mercer, TRREB's Chief Information Officer. The MLS® Home Price Index Composite benchmark was down by 4.5 per cent year-over-year in May 2025. The average selling price, at $1,120,879, was down by four per cent compared to May 2024. On a month-over-month seasonally adjusted basis, the MLS® HPI Composite and average selling price both edged up compared to April 2025. 'With the federal government's housing commitments reiterated in the Throne Speech, we now need concrete actions that will restore housing affordability across the GTA and the rest of Canada. This includes lowering high housing taxes and fees, embracing innovative construction technologies, and streamlining processes to reignite the construction of homes. Home construction is associated with huge economic benefits that would help mitigate the negative impact of ongoing trade disputes. Additionally, with inflation remaining low, a rate cut would be a welcome move—particularly for first-time buyers and those renewing their mortgages,' said TRREB CEO John DiMichele. READ THE FULL REPORT Media Inquiries: For all media inquiries, please email media@ About TRREB: The Toronto Regional Real Estate Board is Canada's largest real estate board, with over 73,000 residential and commercial professionals connecting people, property, and communities. Tables accompanying this announcement are available at: in to access your portfolio
CTV News
18-05-2025
- Business
- CTV News
Have falling rent prices made it easier to live in Toronto? We want to hear from you
Toronto's rental market has been in a steady decline for months, finally showing signs of softening — but has that made a real difference for you? This month, new data from and Urbanation, revealed average apartment rents in the city have dropped 7 per cent year-over-year. It's the 14th straight month of annual declines, pushing the average rent to a 32-month low of $2,589. At the same time, real estate data from the Toronto Regional Real Estate Board (TRREB) shows that condo sales in the city were down more than 30 per cent in April compared to the same time last year. As the market shifts, some renters are starting to see new perks including discounted lease terms, free months of rent, or other incentives landlords once rarely offered. But how far do those savings go in a city still well known for high housing costs? Are you finally seeing some breathing room in your budget — or are the deals not what they seem? We want to hear from you Whether you scored a rental deal that felt too good to be true or been offered an incentive, CTV News Toronto wants to hear from you. Are you seeing more competition, or less? Share your story by emailing us at torontonews@ with your name, general location, and phone number in case we want to follow up. Your comments may be used in a story. READ MORE:
CTV News
18-05-2025
- Business
- CTV News
Have falling rent prices made it easier to live in Toronto? We want to hear from you
Toronto's rental market has been in a steady decline for months, finally showing signs of softening — but has that made a real difference for you? This month, new data from and Urbanation, revealed average apartment rents in the city have dropped 7 per cent year-over-year. It's the 14th straight month of annual declines, pushing the average rent to a 32-month low of $2,589. At the same time, real estate data from the Toronto Regional Real Estate Board (TRREB) shows that condo sales in the city were down more than 30 per cent in April compared to the same time last year. As the market shifts, some renters are starting to see new perks including discounted lease terms, free months of rent, or other incentives landlords once rarely offered. But how far do those savings go in a city still well known for high housing costs? Are you finally seeing some breathing room in your budget — or are the deals not what they seem? We want to hear from you Whether you scored a rental deal that felt too good to be true or been offered an incentive, CTV News Toronto wants to hear from you. Are you seeing more competition, or less? Share your story by emailing us at torontonews@ with your name, general location, and phone number in case we want to follow up. Your comments may be used in a story. READ MORE:
