07 Jan Market Update: December 2018
All statistics via Toronto MLS Market Watch.
As per the most recent Market Watch Report from the Toronto Real Estate Board:
Toronto Real Estate Board President Tim Syrianos
announced that Greater Toronto Area REALTORS® reported 92,394 sales through TREB’s MLS®
System in 2017. This total was down 18.3 per cent compared to the record set in 2016.
Record sales in Q1 were followed by a decline in Q2 and Q3 after the Ontario Fair Housing Plan
(FHP) was announced. The pace of sales picked up in Q4, as the impact of the FHP started to
wane, and some buyers arguably brought forward their home purchase in response to the new
OSFI stress test guidelines effective January 1, 2018.
“Much of the sales volatility in 2017 was brought about by government policy decisions.
Research from TREB, the provincial government and Statistics Canada showed that foreign
home buying was not a major driver of sales in the GTA.