INFOGRAPHICS: June 2024 TRREB Toronto Market Reports
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GTA REALTORS® Release June Stats
June 2024 home sales in the Greater Toronto Area (GTA) were lower compared to the same month last year, according to the Toronto Regional Real Estate Board (TRREB). Despite the Bank of Canada rate cut at the beginning of last month, many buyers kept their home purchase decisions on hold. The market remained well-supplied, resulting in a slight dip in the average selling price compared to June 2023.
“The Bank of Canada’s rate cut last month provided some initial relief for homeowners and home buyers. However, the June sales result suggests that most home buyers will require multiple rate cuts before they move off the sidelines. This follows Ipsos polling for TRREB, which suggested that cumulative rate cuts of 100 basis points or more are required to boost home sales by any significant amount,” said TRREB President Jennifer Pearce.
GTA REALTORS® reported 6,213 home sales through TRREB’s MLS® System in June 2024 – a 16.4 per cent decline compared to 7,429 sales reported in June 2023. New listings entered into the MLS® System amounted to 17,964 – up by 12.3 per cent year-over-year.
Read the full report on TRREB website!
The following data is a comparison between June 2024 and June 2023 numbers, and is current as of July 2024. For last month’s numbers, check out our previous infographic!
Or follow this link for all our TREB / TRREB Infographics!
Download Printable Version – June 2024 TRREB, Toronto Market Report
Last Updated on July 8, 2024 by myRealPage