6 June 2019

Overall, the market faces a positive tendency, according to TREB.

“Following a weak start of 2019, the second quarter shows a positive shift in consumer sentiment toward homeownership. Households still consider a property in the GTA to be a quality long-term investment, as population growth is supported by immigration and the regional economy keeps adding jobs in various segments”.

Meanwhile, listings rose by only 0.8% to 19,386 units. Strong market competition led to a 3.6% annual prices increase to $838,540, which outpaced the hikes reported in April (1.9%) and March (0.5%).

According to TREB, although the market can cope with single-digit annual price gains, the restrained supply may cause a much higher prices increase.

“Such a potential scenario is one more reason why TREB and other housing industry stakeholders call for eliminating the obstacles on the way to a wider and more diverse supply of real estate at the market”, – TREB’s chief market analyst Jason Mercer noted.

“Many homeowners don’t want to list their real estate for sale as they don’t see enough housing options meeting their desires”.