Ontario Housing Activity Forecast to Remain Stable in 2016 Before Moderating in 2017

Author: Toronto Real Estate Admin / Category: News Bulletin

TORONTO, October 26, 2015 — Ontario housing activity is expected to maintain its momentum in 2016 before easing in 2017, according to the Fourth Quarter 2015 CMHC Housing Market Outlook released today. Ontario housing starts are expected to range between 61,000 and 70,500 units in 2016 with a point forecast of 65,100. In 2017, starts are expected to range between 50,000 to 68,000 units with a point forecast of 59,900 units. If homeownership costs and inventories rise faster than expected, new home starts could be closer to the lower end of the forecast range.

Existing homes, being less expensive, will see strong MLS® sales figuring between 193,000 and 235,000 units in 2016 with a point forecast of 207,900 before easing and ranging between of 175,000 and 220,000 units in 2017 with a point forecast of 202,700 units. Ontario home prices are expected to grow at a slower rate over the forecast period.

“Despite improving economic performance, Ontario’s housing market is expected to slow over the forecast period as the cost of owning a home continues to increase,” said Ted Tsiakopoulos, CMHC Regional Economist. “However, some segments of the housing market will do better than others. Homes in south western and southern Ontario markets bordering the GTA tend to be more affordable, thus we expect a lot of activity in those centers as we do for high density housing which includes less expensive rental accommodation”.

As Canada’s national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at http://www.cmhc.ca/housingmarketinformation.

Follow CMHC on Twitter @CMHC_ca

Media Contact:

Angelina Ritacco
Cell: 647-210-7420

Ontario MLS® Sales2

Ontario Starts1 (All Areas)

1 The outlook is subject to some degree of uncertainty. Although point forecasts are presented in this publication, CMHC also presents forecast ranges and risks where appropriate. The forecasts included in this document are based on information available as of September 28, 2015, 2015.

2 The term MLS® stands for Multiple Listing Service and is a registered trademark of the Canadian Real Estate Association (CREA).

Article source: http://www.cmhc.ca/en/corp/nero/nere/2015/2015-10-26-0816b.cfm

GTA REALTORS® Release Resale Condominium Market Figures

Author: Toronto Real Estate Admin / Category: Toronto Realtor

TORONTO, October 16, 2015 — Toronto Real Estate Board President Mark McLean announced strong year-over-year growth in condominium apartment sales reported through TREB’s MLS® System in the third quarter of 2015.  Sales were up by close to 11 per cent to 6,586 compared to Q3 2014.  New listings entered into the System during the quarter and active listings at the end of the quarter were also up on an annual basis, but by a lesser rate compared to sales.

“The condominium apartment market segment has been a key contributor to overall growth in GTA home sales this year.  With continued sales growth expected in the fourth quarter, we are on track for a new record in condo transactions through TREB’s MLS® System this year,” said Mr. McLean.

“As the absorption rate for condos accelerated over the last year, tighter market conditions have resulted in sustained price growth,” continued McLean.

Annual growth in the average and median selling prices and the MLS® HPI Benchmark for apartments exceeded the annual rate of inflation in the third quarter.  For the TREB market area as a whole, the average selling price for condo apartments was up by 5.4 per cent year-over-year.  The median selling price was up by 4.4 per cent.  The MLS® HPI Benchmark for apartments was up by 5.6 per cent at the end of September.

“The condominium apartment market has certainly benefited from an increase in the supply of listings over the past year.  However, through the first three quarters of 2015, growth in sales has actually outstripped growth in listings.  This suggests that there was a certain amount of pent-up demand for condominium apartments.  As new projects have completed, investor-held units listed for sale have been absorbed very quickly by end users, to the point where price growth has remained strong,” said Jason Mercer, TREB’s Director of Market Analysis.

Article source: http://www.torontorealestateboard.com/market_news/release_market_updates/news2015/nr_condo_report_Q3-2015.htm

September 2015 Housing Starts in Toronto

Author: Toronto Real Estate Admin / Category: News Bulletin

TORONTO, October 8, 2015 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended at 45,810 units in September compared to 43,863, in August according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.

“Another month of significant apartment starts kept the trend number at its highest level since early 2013 while greater condominium apartment completions allowed developers to get started on new projects,” said Dana Senagama, CMHC Principal Market Analyst for the GTA. “Growth in full-time employment and a tight resale market continue to support strong home buying activity.”

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.

The stand alone monthly SAAR was 58,113 units in September, down from 65,115 units in August. This was largely the result of a smaller number of apartment and semi-detached starts this month.

The City of Toronto had the highest number of total starts, most of which were condominium apartment units. Oakville and Brampton have the next highest levels of starts with condominium apartment starts dominating the former and single-detached homes dominating the latter.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables.

As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

1 All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) — that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

Follow CMHC on Twitter @CMHC_ca

Information on this release:

Media Contact:

Angelina Ritacco

Additional data is available upon request.

Source: CMHC
1 Census Metropolitan Area
2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR).
Detailed data available upon request

Source: CMHC

Source: CMHC

Article source: http://www.cmhc.ca/en/corp/nero/nere/2015/2015-10-08-0816b.cfm

TREB’s President’s News Beat: TREB Raising Housing Issues During Federal Election Campaign

Author: Toronto Real Estate Admin / Category: Toronto Realtor

TREB President’s Column as it appears every Friday in the Toronto Sun’s Resale Homes and Condos section.

October 6, 2015 — With a federal election campaign underway, the Toronto Real Estate Board (TREB) recently helped to shine the spotlight on housing issues by bringing together federal political party representatives for a housing forum.

The capacity event was attended by over 100 REALTORS®, who had the opportunity to hear from Wes Regan, Urban Affairs and Housing Critic for the Green Party of Canada; Adam Vaughan, Urban Affairs and Housing Critic for the Liberal Party of Canada; and Mike Sullivan, Deputy Housing Critic for the New Democratic Party of Canada. All major federal political parties were invited to participate.

As REALTORS®, we play critical roles in facilitating home ownership, creating jobs, and advocating for affordable housing.  These issues are of immense importance to REALTORS®, particularly as we move closer to the federal election.  Our federal housing forum was an excellent opportunity for dialogue with federal housing representatives and to become informed,” said Mark McLean, TREB President.

The forum explored multiple issues including affordable housing, home ownership, and the importance of the housing sector in creating jobs and economic activity. The party representatives discussed how the federal government can help support Canadian home ownership, especially for first time buyers.  They also discussed options for creating affordable housing and for investing in Canada’s aging housing stock. Watch TREB’s Federal Election Housing Forum Highlights Video.

TREB’s housing forum is just one of a number of things that Realtors are doing to make sure housing and homeowner issues are considered during the current federal election campaign.  In this regard, one of TREB’s other key initiatives is the launch of www.YourHomeYourVote.ca, where you can learn more where the federal parties and individual candidates stand on key housing issues, learn about upcoming election events, get information on voting, and read an informative blog.

TREB has also sponsored numerous debates and all-candidates meetings of federal election candidates, in partnership with local GTA Chambers of Commerce.  These events have been excellent opportunities to continue raising housing issues with the candidates.

Housing is one of the key issues of this federal election campaign.  You can make a difference by learning what the parties and candidates are committing to, and, most of all, by exercising your right to vote on October 19, 2015!

Mark McLean is President of the Toronto Real Estate Board, a professional association that represents 42,000 REALTORS® in the Greater Toronto Area.

Follow TREB on www.twitter.com/TREBhome, www.Facebook.com/TorontoRealEstateBoard and www.youtube.com/TREBChannel

Article source: http://www.torontorealestateboard.com/market_news/president_columns/pres_sun_col/index.htm