Toronto Market Report - November/December 2020
Posted on Nov 22, 2020 in Market Report
SALES COMMENTARY
October showed 10,500 sales on TRREB. This was down about 5% from September but still up 25% from October a year ago. The delayed spring market continues with year-end sales expected to reach 92,000 units – the same volume as 2014 and 2017. We are still short of the record sales of over 100,000 which were achieved in 2015 and 2016...
Toronto Market Report - October/November 2020
Posted on Oct 21, 2020 in Market Report
SALES COMMENTARY
The big news is that September sales on TRREB, at just over 11,000 units, was a record for the month. It was also 42% higher than for September 2019. As we previously reported, these numbers represent a strong Spring market (usually April, May, June). The reality is that year-to- date sales in 2020 are now equal to those of 2019. Th...
Toronto Market Report - September/October 2020
Posted on Sep 15, 2020 in Market Report
SALES COMMENTARYAugust sales on TRREB were 10,775. This represented a 40% increase over August of last year. Some are reading too much into these numbers, trying to explain a ‘pandemic real estate boom’. The real story can be found in the year-to-date sale numbers. Year-to-date sales are still 5% lower than the number for 2019.
Most experts and econ...
Toronto Market Report - August/September 2020
Posted on Aug 18, 2020 in Market Report
SALES COMMENTARY
July was the biggest sales month of 2020 but also the biggest sales month ever for a July according to TRREB. This is the Spring market coming late. We also expect August numbers to be strong, with a slow down coming in October. We still believe in a COVID-19 second wave coming late in the Fall. Kids going back to school will be at...
Toronto Market Report - July/August 2020
Posted on Jul 18, 2020 in Market Report
SALES COMMENTARY
The real estate market returned to some normalcy in June and hence our Report is returning to its familiar format. June sales on TRREB (that’s Toronto Regional Real Estate Board to reflect the fact that our members are doing sales over a large part of Southern Ontario) were down only 1.4% from June of 2019. Sales were also 89% highe...
Toronto Market Report - June/July 2020
Posted on Jun 19, 2020 in Market Report
THE REAL ESTATE MARKET ACCORDING TO COVID-19:
1. The GTA market has been driven over the past 15 years by in-migration (from other parts of Canada and from non-residents) at a rate of 100,000 people per year. This has required about 40,000 new housing units each year. We have always delivered under 40,000 units a year and this shortfall has create...