Real Estate Board 2016 Outlook
The Toronto Real Estate Board has published, for the first time, a comprehensive review of 2015 market activity, with an outlook for 2016, covering all aspects of the GTA (Greater Toronto Area) real estate market.
Watch John DiMichele, president of TREB, as he explains the inaugural Market Year in Review & Outlook report. There is a lot of data available in their publication, with forecasts for everything from suburban resale homes, to downtown condos. Two versions exist, one for realtors, and one for the public. Both were released on January 18, 2016.
The report provides information on the following:
– after a record setting 2015, 2016 is predicted to be a strong real estate market going forward
– house prices will continue to trend upward in 2016
– over 12% of the Greater Toronto Area population are planning on purchasing a home in the next 12 months
– a majority of buyers are planning on putting 10% per cent down or more on their purchase
– includes an extensive section on new home construction
– between 96,500 and 105, 000 home sales are expected to be reported through TREB’s MLS system in 2016.
– indepth analysis of the overall competitiveness of the Greater Toronto Area, and also the Golden Horseshoe Area, are provided
You can access the full report in PDF format, by clicking here.