Trish Bongard Godfrey

TREB Market Year-in-Review and Outlook Report

19 January 2016
Trish Bongard Godfrey

The Toronto Real Estate Board has released its annual year-in-review and market outlook report. In addition to detailed analysis of how the real estate market fared in 2015, you can read TREB's predictions for the year to come. In general, the outlook for 2016 is good, especially for Sellers:

"Home ownership demand will remain strong in 2016, with TREB MLS® home sales amounting to between 96,500 and 105,000, depending on the direction of borrowing costs and the availability of listings. A relatively strong GTA economy will keep the unemployment rate low and result in moderate income growth. Even if borrowing costs increase alongside stricter lending guidelines, pent-up demand carried over from 2015, especially for low-rise home types, will ensure that many willing buyers remain in the marketplace. We will continue to experience seller’s market conditions in 2016, but despite the tight market, price growth will be mitigated to a certain degree by the lending pre-approval process and federal lending guidelines. The average selling price will range between $655,000 and $665,000."

- from the Executive Summary

Download the full report