Toronto Regional Real Estate Board President Michael Collins announces the release of TRREB’s fifth annual Market Year in Review and Outlook Report.
This year’s Market Year in Review and Outlook Report, entitled The Time is Now: Planning for Growth in the GTA, follows the increased demand for ownership and rental housing, and the persistent constrained supply of listings, especially where ownership housing is concerned. TRREB’s baseline forecast is calling for strong growth in home sales and selling prices, while the supply of listings is expected to be flat-to-down in 2020.
“Robust regional economic conditions, strong population growth and low borrowing costs will support increased home sales in 2020. Market conditions will become tighter, as transactions will continue to outpace the growth in available listings. The resulting increase in competition between buyers will likely result in an acceleration in price growth across all major market segments” said Mr. Collins.
“The fact that tens of thousands of new households form each year in the GTA is testament to our region’s competitiveness on the global stage. We attract some of the best talent available into and across a diversity of economic sectors. However, in order to remain competitive, policy makers need to continue their focus on the constrained GTA housing supply and to ensure we have an integrated and efficient transit and transportation network that will effectively allow the movement of people and goods. Research in this year’s Market Year in Review and Outlook Report addresses these important topics,” said John DiMichele, TRREB CEO.
Download the full 60-page Report here.
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