Predictions for 2016

2016: HOME SALES WILL REMAIN STRONG

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.

Greater Toronto Area REALTORS® reported 101,299 home sales through TREB’s MLS® System in calendar year 2015, representing a 9.2 per cent increase compared to 2014. In addition, the 2015 sales result also represented a new sales record with an increase of 8.7 per cent over the previous record set in 2007, when a spike in sales was brought about by the impending introduction of a
municipal Land Transfer Tax in the City of Toronto.

Approximately 37 per cent of all transactions took place in the City of Toronto, with the remaining 63 per cent of deals taking place in the other regions of the Greater Toronto Area (GTA), south Simcoe County, and the Town of Orangeville. Similar proportions of sales by geography were noted in 2014.

Suhail Khan

Suhail Khan

Managing Broker
CENTURY 21 Innovative Realty Inc., Brokerage*
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