GTA REALTORS Release January Stats
February 6, 2018 Toronto Real Estate Board President Tim Syrians announced that Greater Toronto Area REALTORS reported 4,019 residential transactions through TREB's MLS System in January 2018. This result was down by 22 percent compared to a record 5,155 sales reported in January 2017.
The number of new listings entered into TREB's MLS System amounted to 8,585 a 17.4 percent increase compared to 7,314 new listings entered in January 2017. However, it is important to note that the level of new listings was the second lowest for the month of January in the past 10 years.
"TREB released its outlook for 2018 on January 30th. The outlook pointed to a slower start to 2018, especially compared to the record-setting pace experienced a year ago. As we move through the year, expect the pace of home sales to pick up, as the psychological impact of the Fair Housing Plan starts to wane and home buyers find their footing relative to the new OSFImandated stress test for mortgage approvals through federally regulated lenders," said Mr. Syrianos.