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Top related persons:
Fergal Smith - 2 Chris Helgren - 1 Jason Mercer - 1 Deepa Babington - 1 that's - 1 James Laird - 1 Laird - 1 Daniel Foch - 1
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Bank of Canada - 2 Toronto Regional Real Estate Board - 2 Thomson - 2 REUTERS - 1 Rights - 1 Toronto Area - 1 TORONTO - 1 Canada Mortgage - 1

Search resuls for: "Toronto Regional Real Estate Board"


5 mentions found


☆ Toronto home prices rebound in September, sales hit 8-month low
  + stars: | 2023-10-04 | by ( Fergal Smith | ) www.reuters.com   time to read: +1 min
REUTERS/Chris Helgren/File photo Acquire Licensing RightsTORONTO, Oct 4 (Reuters) - Greater Toronto Area (GTA) home prices rose in September for the first time in four months, as the Bank of Canada paused its interest rate hiking campaign, but the level of sales fell to the lowest since January. On a year-over-year basis, home prices were up 3%. "GTA home selling prices remain above the trough experienced early in the first quarter of 2023," Jason Mercer, TRREB chief market analyst, said in a statement. "However, we did experience a more balanced market in the summer and early fall, with listings increasing noticeably relative to sales. New listings jumped 44.1% year-over-year, while home sales were down 7.1%.
Persons: Chris Helgren, Jason Mercer, Fergal Smith, Deepa Babington Organizations: REUTERS, Rights, Toronto Area, Bank of Canada, Toronto Regional Real Estate Board, Thomson Locations: Toronto , Ontario, Canada, Canadian
☆ Analysis: Little relief for indebted Canadian homeowners as mortgage rates seen higher for longer
  + stars: | 2023-08-23 | by ( Nivedita Balu Fergal Smith | Nivedita Balu | Fergal Smith | ) www.reuters.com   time to read: +4 min
As of January 2023, residential mortgage debt stood at C$2.08 trillion ($1.53 trillion), according to the Canada Mortgage and Housing Corporation (CMHC). Mortgage rates tend to track moves in the bond market with a lag. At 6.79%, the five-year mortgage rate posted by major Canadian banks has climbed to its highest since November 2008, data from the Bank of Canada shows. When it is time for renewal, options for homeowners hoping to shop for better interest rates might be limited as they would have to re-qualify for the stress test at the latest interest rates with their new lender. "It certainly is going to be problematic for the Canadian economy if rates stay at this level."
Persons: that's, James Laird, Laird, Daniel Foch, Foch, Stephen Brown, Nivedita Balu, Fergal Smith, Denny Thomas, Jonathan Oatis Organizations: TORONTO, Bank of Canada, Canada Mortgage, Housing Corporation, Ratehub.ca, Bank of, Toronto Regional Real Estate Board, Greater Toronto Area, Reuters, North, Capital Economics, Thomson Locations: United States, Toronto, Greater Toronto, Canada, North America
☆ Toronto home prices rise for third month in April
  + stars: | 2023-05-03 | by ( Fergal Smith | ) www.reuters.com   time to read: +1 min
[1/2] A for sale sign is displayed outside a home in Toronto, Ontario in Toronto, Ontario, Canada December 13, 2021. The average price of a GTA home rose to C$1.153 million ($846,425) in April, up 4% from March, Toronto Regional Real Estate Board (TRREB) data showed on Wednesday. On a year-over-year basis, the average price remained lower, but the pace of decline slowed to 7.8% from 14.6% in March. The average price was 13.6% below the February 2022 peak. "Many buyers have come to terms with higher borrowing costs and are taking advantage of lower selling prices compared to this time last year," TRREB President Paul Baron said in a statement.
☆ Toronto home prices rise in March as new listings tumble
  + stars: | 2023-04-05 | by ( ) www.reuters.com   time to read: +1 min
TORONTO, April 5 (Reuters) - Greater Toronto Area (GTA) home prices increased in March from February, with listings falling at a faster rate than did sales in comparison to a year ago, in the first look at the market since the Bank of Canada paused its interest rate hikes. The BoC raised interest rates eight consecutive times before moving to the sidelines last month. Sales tumbled 36.5% from a year ago, while new listings fell at a steeper rate, down 44.3%, indicating a tightening of market conditions. "As we moved through the first quarter, Toronto Regional Real Estate Board (TRREB) Members were increasingly reporting that competition between buyers was heating up in many GTA neighbourhoods. ($1 = 1.3443 Canadian dollars)Reporting by Fergal Smith; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.
☆ Toronto home prices fall 1% in November; down roughly 19% from peak
  + stars: | 2022-12-06 | by ( ) www.reuters.com   time to read: +1 min
TORONTO, Dec 6 (Reuters) - Home prices in the Greater Toronto Area (GTA) fell in November as rapidly rising interest rates weighed on the city's once-red-hot housing market, data from the Toronto Regional Real Estate Board (TRREB) showed on Tuesday. The average price of a GTA home fell to C$1.08 million ($794,527) in November, down 1% from October and down 7.2% from a year ago. Prices were about 19% below February's peak. "Increased borrowing costs represent a short-term shock to the housing market," TRREB President Kevin Crigger said in a statement. ($1 = 1.3593 Canadian dollars)Reporting by Fergal Smith in Toronto Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.
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