Latest news with #ElechiaBarrySproule
CBC
04-07-2025
- Business
- CBC
GTA home sales down year-over-year in June, listings up: real estate board
Social Sharing Greater Toronto Area-home sales ticked 2.4 percent lower in June compared with a year earlier as 6,243 properties changed hands, while new listings rose. The Toronto Regional Real Estate Board (TRREB) said sales were up 8.1 per cent from May on a seasonally adjusted month-over month basis, as the housing market "continued to show signs of recovery." The board said 19,839 new properties were listed in the GTA last month, up 7.7 per cent compared with last year. "With more listings available, buyers are taking advantage of increased choice and negotiating discounts off asking prices," TRREB president Elechia Barry-Sproule said in a news release. "Combined with lower borrowing costs compared to a year ago, home ownership is becoming a more attainable goal for many households in 2025." The average selling price fell 5.4 per cent compared with a year earlier to $1,101,691, and the composite benchmark price, meant to represent the typical home, was down 5.5 per cent year-over-year. WATCH | Home sales, prices down in major Canadian markets, boards say: Home sales slumping in major Canadian markets, real estate boards report 3 hours ago Duration 2:23 Active listings hit 31,603 last month, up 30.8 per cent from June 2024's inventory of 24,169 homes. Like other regions, the GTA experienced a sluggish first half of the year for real estate activity as many would-be buyers were spooked by economic uncertainty associated with Canada's trade war with the U.S. In May, home sales were down about 13 per cent year-over-year after a 23 per cent annual decline in April. "A firm trade deal with the United States accompanied by an end to cross-border sabre rattling would go a long way to alleviating a weakened economy and improving consumer confidence," TRREB chief information officer Jason Mercer said. "On top of this, two additional interest rate cuts would make monthly mortgage payments more comfortable for average GTA households. This could strengthen the momentum experienced over the last few months and provide some support for selling prices." The Bank of Canada has held its key policy rate steady for two straight decisions at 2.75 per cent after seven consecutive cuts. In the City of Toronto, there were 2,319 sales last month, a 3.5 per cent increase from June 2024. Throughout the rest of the GTA, home sales fell 5.6 per cent to 3,924. All property types saw fewer overall sales in June compared with a year ago throughout the region. The largest decline was in the townhouse segment, where four per cent fewer properties sold, followed by detached houses with a 2.9 per cent decrease. There were 2.5 per cent fewer condos sold and a 0.7 per cent drop of semi-detached homes that changed hands.
CTV News
04-07-2025
- Business
- CTV News
GTA home sales down year-over-year in June, listings up: real estate board
Real estate signage is shown in Oakville, Ont., west of Toronto on Saturday, May 11, 2024. THE CANADIAN PRESS/Richard Buchan TORONTO — Greater Toronto Area-home sales ticked 2.4 per cent lower in June compared with a year earlier as 6,243 properties changed hands, while new listings rose. The Toronto Regional Real Estate Board says sales were up 8.1 per cent from May on a seasonally adjusted month-over-month basis, as the housing market 'continued to show signs of recovery.' The board says 19,839 new properties were listed in the GTA last month, up 7.7 per cent compared with last year. TRREB president Elechia Barry-Sproule says that with more listings available and lower borrowing costs than this time last year, home ownership is becoming more attainable and buyers have been negotiating discounts on asking prices. The average selling price decreased 5.4 per cent compared with a year earlier to $1,101,691, and the composite benchmark price, meant to represent the typical home, was down 5.5 per cent year-over-year. Active listings hit 31,603 last month, up 30.8 per cent from June 2024's inventory of 24,169 homes. This report by The Canadian Press was first published July 4, 2025. Sammy Hudes, The Canadian Press
Globe and Mail
04-07-2025
- Business
- Globe and Mail
TRREB: More Interest Rate Cuts and a Trade Deal Would Further Improve Home Sales
TORONTO, July 04, 2025 (GLOBE NEWSWIRE) -- Ownership housing affordability continued to improve in June 2025. Average selling prices and borrowing costs remained lower than last year's levels. However, despite some month-over-month momentum, many would-be homebuyers remained on the sidelines due to economic uncertainty. 'The GTA housing market continued to show signs of recovery in June. With more listings available, buyers are taking advantage of increased choice and negotiating discounts off asking prices. Combined with lower borrowing costs compared to a year ago, homeownership is becoming a more attainable goal for many households in 2025,' said Toronto Regional Real Estate (TRREB) President Elechia Barry-Sproule. Greater Toronto Area (GTA) REALTORS® reported 6,243 home sales through TRREB's MLS® System in June 2025 – down by 2.4 per cent compared to June 2024. New listings entered into the MLS® System amounted to 19,839 – up by 7.7 per cent year-over-year. On a seasonally adjusted basis, June home sales increased month-over-month compared to May 2025. New listings declined compared to May. The monthly increase in sales coupled with the monthly decline in new listings continued the tightening trend experienced during the spring. The MLS® Home Price Index Composite benchmark was down by 5.5 per cent year-over-year in June 2025. The average selling price, at $1,101,691 was down by 5.4 per cent compared to June 2024. On a month-over-month seasonally adjusted basis, the MLS® HPI Composite and average selling price both edged lower compared to May 2025. 'A firm trade deal with the United States accompanied by an end to cross-border sabre rattling would go a long way to alleviating a weakened economy and improving consumer confidence. On top of this, two additional interest rate cuts would make monthly mortgage payments more comfortable for average GTA households. This could strengthen the momentum experienced over the last few months and provide some support for selling prices,' said TRREB Chief Information Officer Jason Mercer. 'It is important to highlight that housing is not just impacted by economic and financial issues. Canadian residents, both homeowners and renters alike, are increasingly having to deal with the nightmare of violent home invasions and carjackings,' said TRREB CEO John DiMichele. "TRREB is encouraged by the recent federal announcement to table a crime bill this Fall introducing stricter bail conditions and sentencing for these disturbing crimes. While this is a good first step by the federal government to strengthen public safety, more is needed, such as working with provinces to increase law enforcement funding and improve capacity and efficiency in the court system,' continued DiMichele. READ THE FULL REPORT Media Inquiries: For all media inquiries, please email media@ About TRREB: The Toronto Regional Real Estate Board is Canada's largest real estate board, with over 73,000 residential and commercial professionals connecting people, property, and communities. Photos accompanying this announcement are available at:
Yahoo
04-07-2025
- Business
- Yahoo
Toronto home sales rise to five-month high in June
By Fergal Smith TORONTO (Reuters) -Greater Toronto Area home sales rose for a third straight month in June and prices extended their recent decline, Toronto Regional Real Estate Board data showed on Friday. Seasonally adjusted sales increased 8.1% on a month-over-month basis to 5,068 units, marking the highest level since January. TRREB's home price index fell 0.9% to C$978,200 ($720,112), extending a string of declines since December. The Greater Toronto Area (GTA) includes Toronto, Canada's most populous city, and four surrounding regional municipalities. "The GTA housing market continued to show signs of recovery in June," TRREB President Elechia Barry-Sproule said in a statement. "With more listings available, buyers are taking advantage of increased choice and negotiating discounts off asking prices. Combined with lower borrowing costs compared to a year ago, homeownership is becoming a more attainable goal for many households in 2025." The Bank of Canada has lowered its benchmark interest rate by 2-1/4 percentage points since June 2024 to support the economy which has shown signs of slowing as the U.S. wages a trade war. Canada sends about 75% of its exports to the United States. 'A firm trade deal with the United States accompanied by an end to cross-border sabre rattling would go a long way to alleviating a weakened economy and improving consumer confidence," said Jason Mercer, TRRE's Chief Information Officer. On a year-to-year basis, the price index was down 5.5%, while sales declined 2.4% and new listings were up 7.7%. ($1 = 1.3584 Canadian dollars) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-07-2025
- Business
- Yahoo
TRREB: More Interest Rate Cuts and a Trade Deal Would Further Improve Home Sales
TORONTO, July 04, 2025 (GLOBE NEWSWIRE) -- Ownership housing affordability continued to improve in June 2025. Average selling prices and borrowing costs remained lower than last year's levels. However, despite some month-over-month momentum, many would-be homebuyers remained on the sidelines due to economic uncertainty. 'The GTA housing market continued to show signs of recovery in June. With more listings available, buyers are taking advantage of increased choice and negotiating discounts off asking prices. Combined with lower borrowing costs compared to a year ago, homeownership is becoming a more attainable goal for many households in 2025,' said Toronto Regional Real Estate (TRREB) President Elechia Barry-Sproule. Greater Toronto Area (GTA) REALTORS® reported 6,243 home sales through TRREB's MLS® System in June 2025 – down by 2.4 per cent compared to June 2024. New listings entered into the MLS® System amounted to 19,839 – up by 7.7 per cent year-over-year. On a seasonally adjusted basis, June home sales increased month-over-month compared to May 2025. New listings declined compared to May. The monthly increase in sales coupled with the monthly decline in new listings continued the tightening trend experienced during the spring. The MLS® Home Price Index Composite benchmark was down by 5.5 per cent year-over-year in June 2025. The average selling price, at $1,101,691 was down by 5.4 per cent compared to June 2024. On a month-over-month seasonally adjusted basis, the MLS® HPI Composite and average selling price both edged lower compared to May 2025. 'A firm trade deal with the United States accompanied by an end to cross-border sabre rattling would go a long way to alleviating a weakened economy and improving consumer confidence. On top of this, two additional interest rate cuts would make monthly mortgage payments more comfortable for average GTA households. This could strengthen the momentum experienced over the last few months and provide some support for selling prices,' said TRREB Chief Information Officer Jason Mercer. 'It is important to highlight that housing is not just impacted by economic and financial issues. Canadian residents, both homeowners and renters alike, are increasingly having to deal with the nightmare of violent home invasions and carjackings,' said TRREB CEO John DiMichele. "TRREB is encouraged by the recent federal announcement to table a crime bill this Fall introducing stricter bail conditions and sentencing for these disturbing crimes. While this is a good first step by the federal government to strengthen public safety, more is needed, such as working with provinces to increase law enforcement funding and improve capacity and efficiency in the court system,' continued DiMichele. READ THE FULL REPORT Media Inquiries: For all media inquiries, please email media@ About TRREB: The Toronto Regional Real Estate Board is Canada's largest real estate board, with over 73,000 residential and commercial professionals connecting people, property, and communities. Photos accompanying this announcement are available at:
