It is important that we all remain informed about the coronavirus (COVID-19), and to that end, the Toronto Regional Real Estate Board (TRREB) continues to monitor COVID-19 developments closely. The well-being of TRREB Members, their clients and TRREB staff is our utmost priority.

REALTORS^® engage in interactions with clients throughout their day-to-day business, and we have suggested ways to protect yourself during the COVID-19 outbreak. Please take the time to review these suggested best practices which apply to Realtors and their clients, home buyers and sellers, and businesses.

We have also included advice from other public organizations about what you need to know, which areas are affected and the steps you should be taking to protect yourself and others.

These are suggested measures, and Realtors and their clients should speak with their Brokerage for advice and direction.

How can I protect myself as a Realtor, Home Buyer/Seller or Business Client?

Before meeting with clients, it is advisable that Realtors ask clients or others about their recent travel, particularly to areas identified as having an increased risk of COVID-19. Realtors should use their best judgment, and may want to avoid driving clients or interacting in person with clients who show signs of illness or reveal recent travel outside Canada to areas of increased risk of COVID-19; and please note that these areas continue to be updated as the situation on COVID-19 continues to evolve.

If Realtors and clients do interact, it’s a good idea to follow Health Canada guidelines on prevention tips.

In addition, Health Canada suggests you keep a two-metre radius from others when out in public, and to practise “social distancing,” and Realtors and their clients should stay in isolation if you’re showing any symptoms of being sick.

Interacting with Clients

Realtors should consider contacting clients by email, phone or using other forms of technology, such as video calls.  These best practices can help prevent the spread of COVID-19 and allow Realtors to remain in contact with clients and avoid the risk of transmitting COVID-19.

If Realtors do have an in-person meeting with clients, they should ensure that they and their clients partake in prevention measures such as thorough handwashing with soap and water or disinfecting with an alcohol-based sanitizer containing at least 60% alcohol prior to meeting.

Open Houses

This is a real estate Brokerage decision that will have to be considered, taking into account the health of clients, Realtor staff and the community. Tuning into the news to remain informed about COVID-19 will allow you to better understand the severity of the risk in your area.

Realtors should speak openly and honestly with Sellers about the pros and cons of holding an open house and consider alternative marketing opportunities. This will assist in determining the risks of holding an open house with Sellers or Buyers.

If Realtors and their clients feel the need to host an open house, these tips should help:

• Use disinfecting wipes to clean commonly-shared surfaces like door handles;
• Restrict open house attendance to one group at a time;
• Ask visitors to limit physically touching items in the home;
• Refrain from greeting others with handshakes or hugs;
• Encourage clients to thoroughly clean and disinfect the house after open houses or viewings;
• Request clients or attendees to notify their Realtor if they become ill within two weeks of an open house or showing. If an attendee does become sick or is diagnosed with COVID-19, communicate this with the homeowner and other attendees if possible; and
• Avoid sharing items such as phones, tablets or laptops.

Realtors can also propose alternative marketing opportunities for the Seller’s consideration, such as video tours and other methods to virtually tour a property as a means of respecting current government health advisories in effect.

How about TRREB MLS^® Rules and related matters?

TRREB’s MLS^® Rules are in place to ensure compliance and the orderly operation of the MLS^® System; however, we recognize that we are in unprecedented times, and the situation is changing rapidly with each passing day. During these extraordinary circumstances, any complaints received by TRREB regarding compliance with the MLS^® Rules will be assessed in light of directives provided by government and public health authorities.

TRREB encourages all Members to follow the advice of public health authorities and exercise reasonable precautions as needed to ensure the safety of all Members and their clients. CREA and NAR have published resources that TRREB Members can also refer to in determining appropriate measures for their respective operations. Those resources can be found here (CREA) and here (NAR).

What else is TRREB doing?

In keeping with best practices and being diligent to minimize any exposure, the following courses of action have been taken by TRREB, with further measures possible, in light of the dynamic nature of COVID-19 developments.

1. All in-person classes hosted by the Professional Development Department have been suspended. Where possible, online webinars will continue to be made available.
2. Access to the various TRREB offices unavailable until further notice. TRREB is still operational and open for business during regular hours 8:30 a.m. to 4:30 p.m., and Members can still contact TRREB by telephone, email or TRREB’s other on-line channels including e-Commerce, the online REALTOR® STORE, Help Desk call centre, etc.
3. Arbitration and Professional Standards hearings will be suspended indefinitely until further notice.
4. A decision on the timing of our annual REALTOR® QUEST Conference and Trade Show will be made in the coming weeks.

Looking for more information surrounding COVID-19?

For a full list of prevention tips, please visit the Health Canada website.

You should also be mindful of the following advisory on Enhanced Public Health Measures for COVID-19 from the Office of the Ontario Chief Medical Officer of Health regarding travel, large events and other related matters.

Ontario Ministry of Health
https://www.ontario.ca/page/2019-novel-coronavirus#section-0

Toronto Public Health
https://www.toronto.ca/community-people/health-wellness-care/diseases-medications-vaccines/coronavirus/

Public Health Agency of Canada
https://www.canada.ca/en/public-health/services/diseases/2019-novel-coronavirus-infection.html

World Health Organization
https://www.who.int/emergencies/diseases/novel-coronavirus-2019 

Centres for Disease Control (CDC) – United States
https://www.cdc.gov/coronavirus/2019-ncov/index.html

We are monitoring developments closely, and will communicate any additional measures as they become necessary.

Thank you for your understanding as we all deal with these challenging times.

Michael Collins, TRREB President

The post Best Practices & Real Estate: Coronavirus (COVID-19) appeared first on TRREB Wire.

This blog post is provided by Metrolinx

There’s a lot more to increasing Ontario GO Train service to Bowmanville, Kitchener and Niagara than having trains roll up to platforms. Here, we break down some of the background and facts of this historic transit expansion.

Canada’s rail history is vast and filled with moments that defined the times – including the earliest tests of one of the nation’s first trains, which were apparently done in the moonlight, so the public wouldn’t be alarmed by the machine.

We’re now seeing another remarkable period of transit growth – though it’s very public and runs during night and day.

GO Transit trains and UP Express – the rail link between downtown Toronto to Pearson International Airport – are seeing record numbers. Compared to last quarter, 4.9 per cent more people are choosing these trains. And GO ridership growth is outpacing other providers in North America, according to the American Public Transportation Association rail results over the same period (3.4 per cent).

What’s driving this trend? More customers are taking trains outside of their daily commutes. There is steady growth in weekend short trips (28 per cent) and off-peak ridership (40 per cent). This jibes with what Metrolinx is aiming for with its GO Expansion program: transforming GO from a commuter railway to a two-way, all-day transit network, with service every 15 minutes or better on core parts of its network.

Under GO Expansion, Metrolinx has increased train service by 33 per cent over the last two years, or more than 400 additional weekly trips. Incentives that make transit more affordable such as Kids GO Free, the $10 Sunday Funday pass and PRESTO event discounts are also driving ridership.

With all new work, the Initial Business Case (IBC) is the first of four Metrolinx documents developed over a project’s lifecycle.

The growth may seem more natural than the first train did in La Prairie, Quebec, in 1836 – the original rails were made out of pine – but the larger GO Expansion project is another milestone marker in Canadian history.

Here, we’ve broken down some of the interesting elements about each of the three IBCs for the rail extensions in Bowmanville, Kitchener and Niagara:

Bowmanville

Metrolinx is undertaking exciting work to extend service eastward through Bowmanville and other communities in Durham Region.

Metrolinx’s Board of Directors recently recommended Option 2 advance to the next stage of the business case process, called the Preliminary Design Business Case.

A previous IBC considered a single alignment and service concept (morning and evening peaks only). Of the four routes considered, Option 2 extends through Oshawa GO Station and uses Canadian Pacific (CP) Railway’s existing General Motors (GM) spur line to cross Highway 401 and connect to Bowmanville. This option does the best job of extending the benefits of two-way, all-day service to riders in Durham Region while balancing project costs.

This option serves the major population centres along the extension to get more commuters in and out of downtown Toronto, but also strengthens off-peak and weekend inter-community travel with more weekday and weekend service.

Currently, GO bus service runs from Oshawa to Bowmanville every 30 minutes. Under the new proposal, there is the possibility of four new rail stations at Thornton’s Corners East, Ritson Road, Courtice and Bowmanville. The existing Oshawa GO Station will remain open.

Kitchener

Metrolinx is transforming the existing Kitchener line into a true rapid transit experience.

GO train ridership at the Kitchener GO Station increased by 87 per cent in 2019 thanks to new mid-day and late-night trains (84 more weekly trips). The expansion of two-way, all-day train service between Kitchener and Toronto has been under consideration for many years. With the new proposal, there will be more trips at every point along the line – from Kitchener-Waterloo, Guelph, Halton Hills, Brampton, Mississauga and Toronto.

Two-way, all-day service between Kitchener and Toronto requires new infrastructure between Kitchener and Bramalea GO stations. Metrolinx does not own the nearly 21-kilometer segment between Bramalea and Georgetown GO stations, along the Halton Subdivision. For this reason, a freight bypass to divert Canadian National (CN) Railway traffic off the Halton Subdivision was explored in the 2015 IBC and 2016 feasibility studies.

However, the updated 2018 IBC identifies a minimal infrastructure option (Option 2) as the optimal investment decision. The new option allows for improved service at a lower cost, and in a shorter timeline than the freight bypass options (five years versus eight years). Thanks to relationships with its freight partners, Metrolinx is finding ways to work with them to coordinate schedules and to establish the long-term agreements needed to accommodate service increases. Metrolinx will continue to phase in service increases as portions of the corridor are upgraded.

Niagara Region

Metrolinx introduced year-round, seven-day-a-week service between Toronto and Niagara Falls four years earlier than promised. In early 2019, weekday GO train service became available and weekend train service between the two regions started in August 2019. The first Niagara Extension IBC was posted in 2015. An updated 2019 version examines three all-day service patterns, captures the impacts on ridership of Niagara’s strong tourism market and uses a 2031 growth forecast consistent to region-wide growth plan totals to inform forecasted demand.

The preferred option in the updated IBC increases train service with 11 daily trips to and from Niagara Region. Under this option, GO’s seasonal summer rail service would be extended to year-round daily operation to serve off-peak hours. There would also be extension of hourly two-way, all-day services to Confederation GO Station.

The scope of the future Confederation GO Station has been finalized and will be tendered in spring 2020. The timeline for the construction of the self-serve rail station will be confirmed once the contract is awarded. In the interim, GO bus Route 12 began serving the future site of Confederation GO in November 2019.

In line with its transit-oriented community development approach, Metrolinx has adopted a market-driven strategy for station development and is assessing how it can use market forces to leverage the GO Transit real estate portfolio in a way that benefits communities and delivers a better customer experience. Given this, Metrolinx is relying on third-party partners (such as municipalities, developers and others) to build Grimsby and Confederation GO stations.

“We have consistently planned for the integration of transit and land-use planning that maximizes the amount of residential, business and leisure space within walking distance of public transit, so this direction is an exciting opportunity to move this approach forward with each new GO station” says Metrolinx CEO Phil Verster.

“Not only can this approach save taxpayer dollars and exponentially grow ridership, it can deliver much more than transit stations. Each new stop creates opportunities for built environments that offer services people want where they live, work and play.”

Canada has come a long way since the earliest days of rail – early passengers were fined for sneaking dogs into first class while canines are allowed on GO Transit – history is still being made, as growth continues.

The post Guest Blog : How Metrolinx Is Growing Its Network appeared first on TRREB Wire.

In line with the forecast contained in the Toronto Regional Real Estate Board’s recently released Market Year in Review and Outlook Report, TRREB President Michael Collins announced a very strong year-over-year sales and price growth in February 2020.

Greater Toronto Area REALTORS® reported 7,256 residential transactions through TRREB’s MLS® System in February 2020, representing a 45.6 per cent increase compared to a 10-year sales low in February 2019. However, February2020 sales were still below the 2017 record result. Year-over-year sales growth, for the GTA as a whole, was strongest for ground-oriented home types.

After preliminary seasonal adjustment, February 2020 sales also exhibited positive momentum, up by 14.8 per cent compared to January 2020.

“Sales growth will be strong this year. TRREB’s forecast published in its Market Year in Review and Outlook Report on February 6, is calling for 97,000 sales in 2020. However, the annual pace of sales growth experienced in February will likely not be sustained throughout the year, because we will be making comparisons to much stronger sales results reported after the first quarter of 2019,” said Mr. Collins.

New listings amounted to 10,613 in February2020, a 7.9 percent increase compared to February2019. This moderate annual growth rate was much smaller than that reported for sales, which means market conditions tightened considerably over the past year.

“Sales growth well in excess of listings growth is once again the norm. This is because the temporary effects of the 2017 Ontario Fair Housing Plan and the OSFI mortgage stress test have largely worn off. However, while these policies were running their course, the well-publicized housing supply problem in the GTA continued unabated. All levels of government have acknowledged the supply problem, but we need to very quickly move from policy briefs to shovels in the ground,” said TRREB CEO John DiMichele.

As market conditions tightened over the past year, competition between buyers has clearly increased. This resulted in a further acceleration in year-over-year price growth in February. The MLS® Home Price Index Composite Benchmark was up by10.2 percent. The average selling price for all home types combined was up by 16.7 percent to $910,290. Double-digit average price growth was experienced for most major market segments, including detached houses and condominium apartments.

“TRREB’s current average price forecast is for 10 per cent price growth to $900,000 in 2020. While this outlook represents a very robust pace of growth, it is possible that further tightening in the detached market segment could push the overall average selling price above TRREB’s base line scenario. This could unfold if sales growth continues to outstrip new listing growth to the degree it has so far in 2020,” said Jason Mercer, TRREB’s Chief Market Analyst.

 

February 2020 Market Watch Publication

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This blog post is provided by Metrolinx.

The provincial transit agency and the GTAA (Greater Toronto Airports Authority) have reached an important step in a project that will make getting to and from area airports easier.

Back in August, 1939, a Trans-Canada Air Lines DC-3 touched carefully down in what would eventually become the Toronto Pearson International Airport. And since that day, decisions have to be made on how to get people – from average travellers to the Queen of England – to and from what’s become Canada’s largest and busiest airfield.

The evolution of the important transit hub continues, as Metrolinx and the Greater Toronto Airports Authority (GTAA) have reached a new stage in a project intended to give people more options as they set travel plans to and from area airports.

In April, 2018, Metrolinx CEO Phil Verster and GTAA President Howard Eng agreed to move forward on a shared goal: improve transit access to Canada’s largest airport, while prioritizing transit use by airport passengers and workers.

“I’m very proud of the alliance we have built with the GTAA,” said Metrolinx CEO, Phil Verster. “From my perspective, joining forces just makes sense. Our goals are similar – we want to connect the region; we want to get people where they want to go. At the end of the day, we both just want to make it easier for people to travel.”

This work is progressing and Metrolinx has announced the partnership has reached an important milestone this week with the signing of an official cost sharing agreement between the two organizations.

Together, the GTAA and Metrolinx are studying:

• A potential connection from the Kitchener GO rail corridor to Toronto Pearson’s planned Regional Transit and Passenger Centre.
• Possible connections from Eglinton Crosstown West, the Finch LRT, Mississauga’s Bus Rapid Transit and various local and regional bus services into Toronto Pearson
• Improvements to ground transportation to/from the airport and airport employment area
• Phasing considerations related to the above.

Recently, the GTAA announced its intention to commit $40 million to advance technical work to extend Eglinton Crosstown West from Renforth station (at Commerce Blvd.) to the airport, extending the partnership even further.

Pearson Airport not only attracts travellers, but also employers and employees. The area around the airport is home to about 300,000 jobs, in addition to those employed within the airport itself.

The people working in the airport area come from communities across the Greater Golden Horseshoe Region, and beyond.

When that first plane touched down at the site of Pearson Airport – then called the Malton Airport – flight was largely something most Canadians could only dream of. Today, there’s a steady flow of people from around the world heading to and from the major hub.

And every one of them is looking for a better way to travel, beyond when they’re in the air.

As CEO Howard Eng prepares to retire this year after eight years with the GTAA and 40 years as an airport executive, Metrolinx thanks him for the groundwork he has done to establish our successful partnership. Howard has been a visionary leader through a time of extraordinary growth in the GTA. The future of transit connectivity at Canada’s largest airport looks bright, thanks to Howard’s commitment. We look forward to ca continued partnership with the GTAA under Deborah Flint, and know that Howard’s legacy will continue to be felt.

The post Guest Blog: Metrolinx & GTAA create paths to transit hub appeared first on TRREB Wire.

Do you know a high school senior who is en route to pursuing post-secondary education? They’re likely eligible for a TREB Past President’s Scholarship.

Now in its fourteenth year, TRREB’s Past President’s Scholarship program annually awards scholarships on behalf of TRREB Member REALTORS® to graduating high school seniors pursuing post-secondary education, for example, university, college, or trade school. Two $5,000 first place scholarships and two $2,500 second place scholarships are available.

ESSAY TOPICS & APPLICATION DEADLINE

This year’s essay topic choices are:

1. Housing is changing. From a greater market share for condos, to laneway homes and tiny houses, today’s homeowners and renters have different needs and different realities. What do you think the future of housing looks like and why?
2. The housing market in core areas have left home buyers feeling priced out. What factors do you think could address housing affordability across the GTA? Choose one or two issues to focus on. Examples include:
   • improved transit and transportation networks
   • improved first-time buyer incentives and tax breaks
   • speculation or vacancy tax levies.

The deadline for application is Friday, March 27, 2020.

INTERESTED IN APPLYING? HERE’S THE EVALUATION CRITERIA:

A record of academic achievement and a range of leadership qualities and community involvement are required for application; however, judging is based on a 1500-word (minimum) essay.

Applicants must be a graduating high school senior pursuing post-secondary education, for example, university, college, or trade school.

Click here to view the 2020 scholarship application and essay criteria.

The scholarship awards will be presented to the four winners in the spring.

The post TRREB’S $5,000 & $2,500 PAST PRESIDENT’S SCHOLARSHIP appeared first on TRREB Wire.

Toronto Regional Real Estate Board President Michael Collins announces the release of TRREB’s fifth annual Market Year in Review and Outlook Report. The research and report findings will be presented at a morning event consisting of multiple presentations on the housing market, related transportation infrastructure and the underlying economic drivers in the Greater Toronto Area (GTA). The media are encouraged to attend (see event details below). TRREB MLS® System statistics for January 2020 are also provided below.

This year’s Market Year in Review and Outlook Report 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.

“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.

Theresultingincreaseincompetitionbetweenbuyerswilllikelyresultinanaccelerationinprice 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.

2020 Outlook Summary

The following points summarize TRREB’s outlook for 2020 and results of the Ipsos Home Owners and Home Buyers surveys:

Strong underlying demand drivers should see home sales crest the 90,000 mark in 2020, with a point forecast of 97,000 – up by almost 10.5 per cent compared to 87,825 sales reported in 2019. Sales growth will be driven by the higher density low-rise market segments (semi-detached houses and town houses) and the condominium apartment segment. These home types are more affordable, on average, and will remain popular as the OSFI mortgage stress test, although under review by the federal government, appears to be remaining in place for the foreseeable future.

More than half of intending home buyers claimed to have been affected by the OSFI mortgage stress test. In order to adjust to the more stringent qualification standards, intending buyers followed a number of different paths. The most common responses involved changing home price, type or location. Some intending buyers also looked to alternate lenders, such as credit unions or the secondary lending market.

The most popular home type for intending buyers was the detached house. However, the share of intending buyers GTA-wide who sought a detached house has declined markedly since the first survey in 2015 – from 54 per cent in the fall of 2015 to 42 per cent in the fall of 2019. This decline was evident both in the City of Toronto and surrounding regions. An increase in buying intentions for condominium apartments and semi-detached homes has accounted for the dip in detached buying intentions.

Unless we see a significant increase in supply, it is highly likely that new listings will not keep up with sales growth in 2020. The end result will be an acceleration in price growth over the next year, as an increasing number of home buyers compete for a pool of listings that could be the same size or smaller than in 2019.

The point forecast for the overall average selling price in 2020 is $900,000, close to a 10 per cent increase compared to the average of $819,319 reported for 2019. This forecast rate of growth presupposes that price growth will continue to be driven by the less expensive mid-density low-rise home types and condominium apartments. If the pace of detached home price growth starts to catch up to that of other major home types, the average selling price for all home types combined could push well past the $900,000 mark over the next year.

While we did see an improvement in condominium apartment rental supply in 2019, recent consumer polling coupled with the potential for smaller returns on investment from rental income suggests that there are still forces working against more balanced market conditions in the GTA rental market. Policymakers at all levels of government need to be mindful of rental supply requirements as the GTA population continues to grow on the back of a strong regional economy and strong immigration. Expect above-inflation annual growth rates in average one- bedroom and two-bedroom condominium apartment rents to be sustained in 2020.

“After more than three years of slower market activity brought on largely by changes in housing-related policies at the provincial and federal levels, home sales will move closer to demographic potential in2020. The key issue, however, will be the persistent shortage of listings. Without relief on the housing supply front, the pace of price growth will continue to ramp up. Policy makers need to understand that demand side initiatives on their own will only have a temporary impact on the market,” said Jason Mercer, TRREB’s Chief Market Analyst and Director of Service Channels.

The Toronto Regional Real Estate Board is urging caution on the issue of a possible vacant home tax in the City of Toronto. A measured approach to the issue can help to avoid any unintended consequences on the housing market and property owners. TRREB is concerned there is not enough empirical city data or evidence to support this approach.

It is also important to point out that, just three years ago, City Council increased the Municipal Land Transfer Tax (MLTT) on all home buyers by an additional 0.5 percentage point and added an additional upper tier rate of 0.5% on homes priced over $2 million to match the provincial LTT. Continuous increases to the MLTT is an unsustainable and risky fiscal strategy for the City.

While the current suggested MLTT increase by some councillors is focused on higher-priced properties, TRREB is also warning about the potential impact of this proposal on lower-priced properties. The real estate market functions as a continuum. Policies that impact certain price points can have a trickle-down effect by influencing move-up decisions of home-buyers, thereby preventing the supply of lower-priced properties from being freed-up for other home buyers. Anecdotal and statistical evidence suggests that the MLTT has a direct impact on mobility.

“During the recent federal election campaign, Ipsos identified affordability issues as being top of mind for Canadians, and central to those concerns are housing costs in Canada and the GTA in particular. In the coming year, governments will no doubt be focused on how their policies are impacting the delicate balance between housing supply and demand, and how they can best provide relief to Canadians’ pocketbooks in the area of housing costs,” said Sean Simpson, Vice President at Ipsos.

New Research on Housing Supply, Regional Transportation and the Regional Economy

This year’s report is all about planning for growth in the Greater Toronto Area and broader Greater Golden Horseshoe. The subtitle for this year’s report is “The Time is Now” and the contents within the report puts the focus on planning for growth in the GTHA. In addition to sharing the latest data on the Greater Toronto Area ownership housing market, rental market and commercial real estate data, the Toronto Regional Real Estate Board has worked with several partners to bring top-quality and evidence-based research. Our partners this year include Altus Group, Canadian Centre for Economic Analysis, the Pembina Institute and Ryerson University.

“Toronto’s booming economy has brought with it housing affordability challenges that will continue throughout the next decade. Both the provincial and municipal governments must support a massive increase in the supply of all types of housing and tenures as priority number one and quickly transform the land use planning system to make this happen,” said Frank Clayton, Senior Research Fellow, Ryerson University’s Centre for Urban Research & Land Development.

“To accommodate the 480,000 new daily commuters that are expected to join the system between now and 2041, transportation infrastructure capacity will have to increase significantly, and especially for public transit. To get there without making congestion worse, it’s going to be very important to evaluate each new investment in transportation infrastructure on the basis of its productivity to make sure pressure is relieved in the right places” said Paul Smetanin, President and CEO, Canadian Centre for Economic Analysis.

The Canadian Centre for Economic Analysis research in TRREB’s Market Year in Review and Outlook Report looks at growth patterns and presents a comprehensive review of current transportation challenges across the GTHA, as well as suggested solutions for future transportation opportunities.

“Building transit-friendly communities helps individuals and families save on their housing and transportation costs, improves transit use, manages traffic congestion, and in doing so, reduces pollution. In the GTHA, there’s an exciting opportunity to greatly improve access to bus transit that is already widely relied on. To seize these opportunities, communities should prioritize gently increasing housing supply and choice around the GTHA’s bus network,” said Carolyn Kim, Ontario Regional Director, Pembina Institute.

The Pembina Institute presents research on transit-supportive development and the interplay of housing diversity and ideas on increasing housing supply.

TRREB MLS® System Monthly Report for January 2020

TRREB President Michael Collins announced that Greater Toronto Area REALTORS® reported 4,581 home sales through TRREB’s MLS® System in January 2020 – up by 15.4 per cent compared to January 2019. On a preliminary seasonally adjusted basis, sales were up by 4.8 per cent compared to December 2019.

“We started 2020 where 2019 left off, with very strong growth in the number of sales up against a continued dip in the number of new and available listings. Tighter market conditions compared to a year ago resulted in much stronger growth in average selling prices. Steady population growth, low unemployment and low borrowing costs continued to underpin substantial competition between buyers in all major market segments,” said Mr. Collins.

The MLS® HPI Composite Benchmark price was up by 8.7 per cent compared to January 2019 – the highest annual rate of growth for the Benchmark since October 2017. The condominium apartment market segment continued to lead the way in terms of MLS HPI® price growth, but all home types experienced price growth above seven per cent when considering the TRREB market area as a whole. The average selling price in January was up by 12.3 per cent, driven by the detached and condominium apartment segments in the City of Toronto.

“A key difference in the price growth story in January 2020 compared to January 2019 was in the low-rise market segments, particularly with regard to detached houses. A year seems to have made a big difference. It is clear that many buyers who were on the sidelines due to the OSFI stress test are moving back into the market, driving very strong year-over-year sales growth in the detached segment. Strong sales up against a constrained supply continues to result in an accelerating rate of price growth,” said Jason Mercer, TRREB’s Director of Market Analysis and Service Channels.

TRREB’s 2020 Market Year in Review & Outlook Report and Economic Summit At 10:00 a.m. today at Parkview Manor in Toronto (55 Barber Greene Road), TRREB will release its fifth annual Market Year in Review & Outlook Report at an Economic Summit. All media are invited to attend. The event is closed to the public.

The full report can be downloaded February 6, 2020 at 12:00 p.m. from TRREB.ca

 

January 2020 Market Watch

The post TRREB RELEASING 2020 MARKET OUTLOOK & JAN MARKET STATISTICS appeared first on TRREB Wire.

REALTOR® QUEST 2020 is taking place on Wednesday, May 27 and Thursday, May 28, and a wide variety of sponsorship and exhibitor opportunities are available! 

If you are looking to maximize your face-to-face marketing potential, you’ll want to keep reading to discover more information about REALTOR® QUEST 2020 and why your company should participate.

Plus, TREB’s 100^th Anniversary is in 2020, and REALTOR® QUEST 2020 promises to be bigger and better and we are aiming to surpass the 10,000 attendees from last year.

What is REALTOR® QUEST?

REALTOR® QUEST is Canada’s largest real estate conference and trade show, produced by the Toronto Regional Real Estate Board, which is also Canada’s largest real estate board at 56,000 Members.

This signature event will occupy over 280,000 square feet of space at the Toronto Congress Centre (TCC), South Building, conveniently located near Pearson International Airport, major hotels, and a multitude of restaurants. It also features free parking for over 6,000 cars.

Of the 280,000 square feet, the trade show floor at REALTOR® QUEST will consist of over 130,000 square feet of exhibitor space arranged in a stadium-style floor plan designed to maximize your booth traffic.

Why Participate as an Exhibitor or Sponsor for REALTOR® QUEST?

REALTOR® QUEST is the only real estate conference in Canada that affords you such dynamic and diverse marketing opportunities. No other conference matches REALTOR® QUEST in size or attendance.

Our national presence attracts visitors from across Canada, the U.S., and internationally, ensuring your company the best value and exposure of any real estate show in Canada.

Find out why over 85% of REALTOR® QUEST exhibitors return year after year with many companies choosing REALTOR® QUEST to launch new products and services. Some organizations even plan their entire annual marketing program around attendance at REALTOR® QUEST.

Click here to discover a list of industry sectors that REALTORS® are looking to discover at REALTOR® QUEST.

How Do I Become a Sponsor or Exhibitor?

REALTOR® QUEST offers an array of sponsorship opportunities and you can discover them here.

Or, if you’re interested in an exhibitor booth, you can click here for a look at the floor plan and booth availability.

For any inquiries regarding a sponsorship or exhibitor booth, please contact:Tel: 416-443-8136
Email: rqtradeshow@trebnet.com

You can also visit realtorquest.ca for more information and full event details.

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