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Tag Archives: 2020

TRREB RELEASES JUNE RESALE HOUSING MARKET REPORT

For a breakdown of TRREB’s MLS® System housing figures for May, including sales, prices, and condo apartment rental transactions,  view the latest Market Watch by the numbers report, housing market charts and info-graphic here.

TRREB RELEASES JUNE RESALE HOUSING MARKET REPORT

Toronto Regional Real Estate Board President Michael Collins released the following key housing market statistics for JUNE 2020:

TRREB MLS® System Sales and New Listings

  • Greater Toronto Area REALTORS® reported 8,701 sales through TRREB’s MLS® System in June 2020. This result represented a very substantial increase over the May 2020 sales result, both on an actual (+89 per cent) and seasonally adjusted basis (+84 per cent), and was only down by 1.4 per cent compared to June 2019.
  • Year-over-year growth in sales was reported in some areas and market segments. Especially notable were the detached and townhouse market segments in the GTA regions surrounding the City of Toronto.
  • The MLS® Home Price Index Composite Benchmark was up by 8.2 per cent year-over-year in June. The average selling price for all home types combined was $930,869 – up by 11.9 per cent compared to June 2019. The actual and seasonally-adjusted average selling price was also up substantially compared to May 2020, by 7.8 per cent and 9.8 per cent respectively.
  • Average and benchmark selling prices were up year-over-year for all major home types. The strongest average annual rates of price growth were experienced in the detached and semi-detached market segments in the City of Toronto at 14.3 per cent and 22 per cent respectively. This, coupled with the fact that average selling price growth outstripped growth in the MLS® HPI benchmarks, points to a resurgence in the
  • higher-end market segments.

DOWNLOAD YOUR COPY OF THE COMPLETE RELEASE TODAY

Read the complete Market Watch Report for June 2020 here, a quick overview here.

Most of Canada’s housing market likely to be fertile ground for bidding wars in 2020

Looking for a home to buy in 2020? You may find lots of competition and not a lot to choose from.

Canadians hoping to buy a house in 2020 better brace themselves for limited choice and plenty of competition, the latest housing market data suggests.

While conditions remain ho-hum in the Prairies and Newfoundland and Labrador, in the rest of the country, there are plenty of buyers and not much for sale.

A lack of housing supply would be “the story” for 2020, the Canadian Real Estate Association (CREA) warned in its housing market forecast in mid-December.

The latest national statistics, released by CREA Jan. 15, seemed to confirm the trend. The number of existing homes available for purchases was at a 12-year low in December, the association said.

READ MORE: Canada’s home prices rise 9.6 in December compared to a year ago, sales up almost 23%

The issue has been long in the making, according to CREA senior economist Shaun Cathcart.