TRREB Members Supporting the Ontario REALTORS Care® Foundation

Housing and food insecurities are increasing throughout the Greater Toronto Area (GTA) and beyond. To combat these growing issues, the Toronto Regional Real Estate Board (TRREB) donates nearly $1 million each year to give back to the Ontario REALTORS Care® Foundation (ORCF) on behalf of our Members. Since 2008, TRREB has participated in the ORCF’s Every REALTOR® Campaign where TRREB donates $1 per Member per Month. Each dollar supports shelter-based charities, food banks, and help lines, just like these. Friends of Ruby Friends of Ruby was founded in 2014 to meet the needs of 2SLGBQTIA+ youth in the GTA. The centre provides a drop-in space, barrier-free counselling, practical support programs, and meals. Friends of Ruby is all about creating a supportive community and allowing young people to feel validated, involved, and empowered to lead healthier lives. “The thing that motivates me is being able to see youth thriving in this environment.” – Gabrielle Poole-Fournier, Friends of Ruby Housing NavigatorAbuse HurtsSince 1993, Abuse Hurts provides accessible support, healing, and individual empowerment for adult survivors, their families, and caregivers. They are a national leader in the development of programs to prevent abuse, in advocating for the rights of those who have been abused, and in the creation of survivor-friendly ways of helping abuse victims find healing.“Our main service that we offer is delivering hope.” – Ellen Campbell, Abuse Hurts Founder Haven on the QueenswayHaven on the Queensway is a non-profit organization dedicated to enhancing the quality of life for those in need by providing food, clothing, and other resources. Their five core programs – First Care, Food Bank, Haven’s Closet, Haven Helping Seniors and Hope with Wheels – are tailored to address different aspects of poverty and homelessness. They are enhancing the quality of life for those in need by providing food, clothing, and other essential resources.“Your donations are well used at Haven… I can see the difference it makes to all our clients.”– Mary Lee, Haven on the Queensway VolunteerWatch for first-hand accounts of how TRREB’s ORCF donations make a difference in your local communities.The post TRREB Members Supporting the Ontario REALTORS Care® Foundation appeared first on TRREB Wire.

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High Rates Impacting Market, but Population Growth Will Soon Spur Demand

TORONTO, ONTARIO, October 4, 2023 – The impact of high borrowing costs, high inflation, uncertainty surrounding future Bank of Canada decisions and slower economic growth continued to weigh on Greater Toronto Area (GTA) home sales in September. However, despite the market being better-supplied with listings, the average selling price was up year-over-year.“The short and medium-term outlooks for the GTA housing market are very different. In the short term, the consensus view is that borrowing costs will remain elevated until mid-2024, after which they will start to trend lower. This suggests that we should start to see a marked uptick in demand for ownership housing in the second half of next year, as lower rates and record population growth spur an increase in buyers,” said TRREB President Paul Baron.REALTORS® reported 4,642 home sales through TRREB’s MLS® System in September 2023 – down 7.1 per cent compared to September 2022. The year-over-year dip in sales was more pronounced for ground-oriented homes, particularly semi-detached houses and townhouses. On a month-over-month seasonally-adjusted basis, sales were also down slightly.New listings were up strongly on a year-over-year basis from the extremely low level in September 2022. The number of listings also trended upward on a month-over-month seasonally adjusted basis.The MLS® Home Price Index (HPI) Composite benchmark was up by 2.4 per cent year-over-year. The average selling price was up by three per cent over the same time period. On a month-over-month seasonally-adjusted basis, both the average selling price and the MLS® HPI Composite benchmark edged lower by less than one per cent.“GTA home selling prices remain above the trough experienced early in the first quarter of 2023. However, we did experience more balanced market in the summer and early fall, with listings increasing noticeably relative to sales. This suggests that some buyers may benefit from more negotiating power, at least in the short term. This could help offset the impact of high borrowing costs,” said TRREB Chief Market Analyst Jason Mercer.“TRREB’s annual consumer polling has shown that half of intending home buyers in Toronto will be first-time buyers in any given year. The average price of a condo apartment in Toronto is over $700,000. Yet, the first-time buyer exemption threshold for the City’s upfront land transfer tax has remained at $400,000 for a decade-and-a-half. With this in mind, TRREB applauds Toronto City Council for asking City staff to provide a report on a more appropriate exemption level moving forward,” said TRREB CEO John DiMichele. He further stressed that “many housing and taxation policies are currently set in opposition and we need all levels of government to align policies and work together to solve this housing crisis.”Please note the methodology used to calculate MLS® HPI has been changed. For more information, click HERE.Source: Toronto Regional Real Estate Board; CREA Seasonal Adjustment. 1 Preliminary seasonal adjustment undertaken by the Canadian Real Estate Association (CREA).  Removing normal seasonal variations allows for more meaningful analysis of monthly changes and underlying trends. ² MLS® HPI Composite Benchmark, seasonally adjusted.READ THE FULL REPORT.-30-Media Inquiries:Maria Karafilidis, Manager, Public Affairs maria.karafilidis@trreb.ca 416-443-8139The Toronto Regional Real Estate Board is Canada’s largest real estate board with over 73,000 residential and commercial professionals connecting people, property and communities.The post High Rates Impacting Market, but Population Growth Will Soon Spur Demand appeared first on TRREB Wire.

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Making a Lasting Change and Inspiring Hope

Our Members are committed to delivering and inspiring lasting change in their communities. They continue to demonstrate their passion for supporting those in need through food drives, fundraisers, and much more. Their glowing examples create a chain reaction throughout their networks as everyone works towards the common goal of strengthening neighbourhoods across the GTA.TRREB Members, Rick Lew and Shirley Cheng, are forever grateful to Markham Stouffville Hospital (MSH) and Oak Valley Health for the unparalleled care their daughter received when she was born prematurely. To express their deep gratitude, they orchestrated a once-in-a-lifetime experience for a young patient at MSH. Rick and Shirley are both huge hockey fans and wanted to provide the ultimate hockey experience for the patient’s birthday. They arrived with a replica Stanley cup and hockey inspired gifts including his favourite player’s jersey and a matching hat.Rick and Shirley continued to carry on the goodwill and brought the replica Stanley cup to their daughter’s school after learning that the principal was a big Leaf’s fan. They hosted a photo opportunity with the cup along with a successful food drive for the Richmond Hill Food Bank. There’s no telling where the next stop will be on the cup’s tour as Rick and Shirley slapshot a little fun into creating in a brighter tomorrow. REALTOR® Sue McLay started the annual “Fight Like a Girl” fundraiser in support of the Royal LePage Shelter Foundation. The foundation is dedicated exclusively to funding women’s shelters and domestic violence prevention. Last year, Sue raised $3,000 through her self-defence class. This year, they are on track to double that amount!Sue’s team also works closely with the Pinball Clemons Foundation. In collaboration with community partners, they identify youth in need and provide mentorship as they pursue their post-secondary education. Sue’s team attends mentorship events and donates a portion of their commissions to the foundation. Most recently, they sponsored a boxer in the foundation’s Victory Gala boxing match with a donation goal of $5,000. If you’re inspired by these REAL Hero stories, explore more ways our Members give back.Discover Now The post Making a Lasting Change and Inspiring Hope appeared first on TRREB Wire.

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