TRREB: More Choice for Home Buyers in April
2024年5月3日 - 6:00PM
April 2024 home sales were down in comparison to April 2023, when
there was a temporary resurgence in market activity. New listings
were up strongly year-over-year, which meant there was increased
choice for home buyers and little movement in the average selling
price compared to last year.
Greater Toronto Area (GTA) REALTORS® reported 7,114 sales
through the Toronto Regional Real Estate Board (TRREB) MLS® System
in April 2024 – down by five per cent compared to April 2023. New
listings were up by 47.2 per cent over the same period. On a
seasonally adjusted monthly basis, sales edged lower while new
listings were up compared to March.
“Listings were up markedly in April in comparison to last year
and last month. Many homeowners are anticipating an increase in
demand for ownership housing as we move through the spring. While
sales are expected to pick up, many would-be home buyers are likely
waiting for the Bank of Canada to actually begin cutting its policy
rate before purchasing a home,” said TRREB President Jennifer
Pearce.
The MLS® Home Price Index (HPI) Composite benchmark was down by
less than one per cent per cent year-over-year. The average selling
price was up by 0.3 per cent to $1,156,167. On a seasonally
adjusted month-over-month basis, the MLS® HPI Composite was up by
0.4 per cent and the average selling price was up by 1.5 per cent
compared to March.
“Generally speaking, buyers are benefitting from ample choice in
the GTA resale market in April. As a result, there was little
movement in selling prices compared to last year. Looking forward,
the expectation is that lower borrowing costs will prompt tighter
market conditions in the months to come, which will result in
renewed price growth, especially as we move into 2025,” said TRREB
Chief Market Analyst Jason Mercer.
“All levels of government have announced plans and stated that
they are committed to improving affordability and choice for
residents. However, more work is needed on alignment to achieve
these goals, whether we’re talking about bringing enough housing
online to account for future population growth or finding the right
balance between government spending and combatting inflation. We
can’t have policies in opposition. Housing policy alignment is key
to achieving sustained, tangible results,” said TRREB CEO John
DiMichele.
READ THE FULL REPORT.
Media Inquiries:
Maria Karafilidis, Manager, Public Affairs
maria.karafilidis@trreb.ca 416-443-8139
The Toronto Regional Real Estate Board is
Canada’s largest real estate board with over 70,000 residential and
commercial professionals connecting people, property and
communities.
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