All statistics via Toronto MLS Market Watch.
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TORONTO, ONTARIO, July 5, 2018 – Toronto Real Estate Board President Garry Bhaura, in his first
market release as TREB President, is pleased to announce some positive signs with respect to the
Greater Toronto Area REALTORS® reported 8,082 home sales through TREB’s MLS® System in
June 2018 – up 2.4 per cent compared to the low June 2017 result. After preliminary seasonal
adjustment, sales were also up 17.6 per cent on a monthly basis between May 2018 and June
2018, continuing the trend of somewhat volatile month-over-month changes over the past year as
home buyers reacted to various policy changes impacting the market.
“Home ownership has proven to be a positive long-term investment. After some adjustment to the
Fair Housing Plan, the new Office of The Superintendent of Financial Institutions (OSFI) stress test
requirement and generally higher borrowing costs, home buyers are starting to move back into the
market, with sales trending up from last year’s lows. Market conditions appear to be tightening,
with sales accounting for a greater share of listings, as new listings have dropped compared to last
year,” said Mr. Bhaura.