(Toronto Real Estate Market) INSIGHT

January 7, 2008 -- A healthy 4,646 sales in December propelled 2007 sales to a record setting 93,193 sales, TREB President Maureen O'Neill announced today. "Year-end sales are up 12 per cent over last year and up 11 per cent over the 84,145 recorded during 2005, the Toronto market's previous best-ever annual performance." On a year-over-year basis, prices rose seven per cent to $376,236 from last year's $351,941. The annual time-on-market figure stood at 32 days versus 2006's figure of 34 days, meaning that over the course of the past two years it has taken homes within the GTA barely a month to sell on average.

December 5, 2007 -- A record-breaking November saw 7,313 sales, driving year-to-date totals to 88,695 sales, TREB President Maureen O'Neill announced today. "We have already exceeded the 84,145 sales recorded during 2005, which was our previous record," said the President. "By the end of December we will have crossed the 90,000 sales mark for the very first time. As 2007 winds down, the GTA resale home market is looking as healthy as it has ever been."

November 5, 2007 -- TREB Members recorded 7,915 transactions of single-family homes in October, an all time record for the month, TREB President Maureen O'Neill announced today. "Sales were up 15 per cent over the 6,876 figure recorded in October of 2006, and up about 10 per cent over the 7,227 transactions that took place in October 2003, which was our previous record."

"There is every indication that 2007 will be a banner year for resale housing activity in the Greater Toronto Area," said Ms. O'Neill. "The effects of the City of Toronto's new land transfer tax will definitely be felt in 2008 but we are also confident that consumers will continue to see the value of real estate as a solid long-term investment."

September 20, 2007 -- With 3,236 sales so far this month, re-sale housing activity has increased 11 per cent as compared to the first half of September 2006, Toronto Real Estate Board President Maureen O’Neill announced today.

The past five consecutive months have been record-breakers and September is on track to follow suit. It is four per cent ahead of the 3,112 recorded during the first half of September 2005, which became the best September ever.

“Some economists who predicted a soft landing may have to revise their forecasts, said O’Neill. The real estate market continues to prove its strength month after month. There simply is no better investment.”

September 6, 2007 -- More people in the Greater Toronto Area bought resale homes last month than in any August before, Toronto Real Estate Board President Donald Bentley announced today. August also brought year-to-date figures up 13 per cent over the same period last year. So far this year 67,146 homes have sold as compared to 59,488 at this time in 2006. The pace is also 13 per cent ahead of the same timeframe in 2005, which became the best year on record.

“With five consecutive record-breaking months, spring and summer activity was unprecedented and given the strong economic fundamentals that remain in place, we have tremendous confidence in the autumn housing market,” said Mr. Bentley.

August 17, 2007 -- Resale home transactions reached unprecedented heights in the first half of August, up 17 per cent from the same period in 2006, Toronto Real Estate Board President Donald Bentley announced today.

July 18, 2007 -- July has started swiftly, with 3,947 sales to date, TREB President Donald Bentley announced today. This mid-month total is up 21 per cent over last July's 3,251 sales.

"While it is too early to speak of a July record (currently the record is 8,084 sales recorded in 2003), this month should certainly end as one of our best summer performances," said Mr. Bentley. "And in terms of year-to-date activity (54,457 sales), 2007 is 11 per cent ahead of 2006 (48,961 sales). It is also up 13 per cent over the 2005 figure (47,956 sales), and when 2005 was finished it produced an all time annual sales record."

July 6, 2007 -- In June, the Toronto Area resale housing market was nearly 20 per cent more active than a year ago, Toronto Real Estate Board President Donald Bentley announced today. The 10,451 sales recorded in the month were also just shy of the 11,146 sales that made May TREB's most active single month ever.

"This market is very healthy and shows no signs of letting up," Mr. Bentley said. "The strong spring we've seen is carrying through to the summer months, and that has helped to push this year's total activity past 2006 by
nearly 11 per cent."

July 6, 2007 -- Last month the Toronto Real Estate Market recorded 10,451 sales for the best June performance ever, Toronto Real Estate Board President Donald Bentley announced today. "June's figure was up almost 20 per cent over the 8,730 sales recorded during the same month in 2006, and down only slightly (six per cent) from May's best-ever figure of 11,146 sales. To get some idea of the current strength of the market: there have been more sales in the last two months (21,597) than occurred in all of 1977 (20,512), thirty years ago this year."

June 5, 2007 -- With an astonishing 11,146 sales in May, the Toronto Real Estate market put in its best performance since records have been kept, President Dorothy Mason announced today. "The Toronto Real Estate Board has been tracking the local housing market for over forty years, and there has never been a month that even approaches this level of activity," Ms. Mason stated. "May was up 18 per cent over April, our previous record month (9,452 sales), and also up 18 per cent over May of 2006 (9,434 sales), which now ranks as the third highest sales total recorded."

May 4, 2007 -- With 581 sales reported on April 30, the highest single day total ever documented, April's total transactions reached an astounding 9,452, the best single-month total ever recorded, TREB President Dorothy Mason announced today. "The Greater Toronto Area's resale housing market has showed sustained strength and these phenomenal numbers bode well for the remainder of this year's spring market."

May 4, 2007 -- Resale housing activity in April powered the Spring market to never before seen heights, with 9,452 sales recorded during the month, TREB President Dorothy Mason announced today. "With four months passed, 2007 sales to-date are up five per cent over last year," Ms. Mason observed. "We are on track for another near-record year." "With April's results now in," Ms. Mason added, "it is clear that the Toronto resale market still holds excellent opportunities for both first time and move-up buyers."

February 6, 2007 -- The new year got off to a fast start, with 5,173 sales of existing homes in January, TREB President Dorothy Mason announced today. "This figure is up 13 per cent over last January, and up six per cent over the 4,869 sales recorded in January of 2002, which was the previous record for the month." Meanwhile, average prices climbed in January to $353,724, up five per cent over December and up six per cent over the $332,687 recorded in January 2006. "While one shouldn't read too much into a single month's result," the President said. "January's record breaking performance is an encouraging sign for the year ahead."

“Sales have been very solid to start the year,” Mrs. Mason said. “It’s a very good sign for the market to see a healthy level of activity carrying over from last year’s strong finish.”

January 18, 2007 -- The first half of January yielded 1,592 resale home transactions in the Toronto Area, a six per cent increase over the same time period a year ago, Toronto Real Estate Board President Dorothy Mason announced today.

“The strong activity we saw in December has carried through into the new year,” Mrs. Mason said. “Though these are very preliminary results, it is definitely an encouraging sign for the market to be so active this time of year.”

December 5, 2006 -- November put in another solid performance, with 6,281 sales transacted through the TorontoMLS system, Toronto Real Estate Board (TREB) President Dorothy Mason announced today. "This 6,000 plus figure is in keeping with a generally healthy real estate market," said the President. "By the end of December, the Toronto area market will have exceeded 80,000 resales for only the third time in TREB history."

“The market is holding very steady as we progress through autumn and we are seeing a good level of activity across the board,” Mrs. Mason said. “Overall conditions are very healthy and 2006 remains within just one and a half percent of last year’s all-time record sales pace.”

November 3, 2006 -- The Toronto Residential market put in another solid performance in October, with 6,876 homes changing hands through the TMLS system, TREB President Dorothy Mason announced today. "This is up about four per cent over September's 6,622 figure. And, though it has moderated slightly from October of 2005, we are still looking at an annual total of well over 80,000 homes transacted. This is a very healthy, active market."

Prices continued their upward trend in October, rising two per cent over September to $356,423. They were also up four per cent over the $342,450 recorded in October of 2005.

October 4, 2006 -- The Toronto Area resale housing market showed solid activity throughout September with 6,622 sales to maintain the year’s strong performance, Toronto Real Estate Board President Dorothy Mason announced today.“Though the overall sales pace is at more normalized levels, 2006 remains within one per cent of 2005’s all-time record pace for the year,” Mrs. Mason said.
The average price of a home during September was $349,142, up five per cent from the $335,334 recorded last September.

According to Jason Mercer, Senior Market Analyst for the Canada Mortgage and Housing Corporation, good economic conditions continue to provide strong support for the housing market.

While trending lower, sales are forecast to remain near record levels through 2007,” Mr. Mercer said. “Steady job creation and low borrowing costs are key factors underlying continued strong demand for existing homes.”

Wednesday, September 6, 2006 -- TREB President Dorothy Mason announced today that the Toronto resale homemarket continued its run of healthy showings in August, with 6,976 homes changing hands through the TorontoMLS system. "Last month was the second best August ever recorded, off moderately from the record 7,498 figure achieved in 2005. In addition, the year as a whole has seen 59,488 single-family dwelling sales, up marginally from 2005's January to August performance. As people return from their summer holidays, we are looking forward to an even more active autumn market."

Thursday, August 3, 2006 -- July saw 7,082 single-family homes change hands in the Greater Toronto Area; a strong showing at over 7,000 sales, though slightly less active than the 7,387 sales recorded in July 2005, TREB President Dorothy Mason reported today. "The GTA market is very healthy," Mrs. Mason said. "Year-to-date figures show that 2006 remains more than one per cent ahead of 2005, with 52,682 transactions recorded so far this year, compared to last year’s 51,985 transactions." "Consumers are still seeing excellent return on their investment, yet price increases are very steady and controlled which is helping to maintain affordability in the market," Mrs. Mason said.

" Market conditions have been healthy throughout the summer, and activity remains high," Mrs. Mason said. "The number of transactions recorded this year remains one per cent ahead of last year’s record-setting pace."

July 20, 2006 -- In the first half of July, the Toronto Area resale housing market outperformed last year’s mid-July sales pace by three per cent, Toronto Real Estate Board President Dorothy Mason announced today.

“As we progress through the summer, the market is demonstrating a great deal of stability,” Mrs. Mason said. “The strong, consistent activity we are seeing is certainly a positive sign.”

A jump in condominium activity also helped fuel an overall sales increase of 56 per cent in Scarborough’s Morningside area, compared to mid-July 2005.

“Consumers can find a lot to be confident about in terms of activity, prices and inventory,” TREB’s President said. “Things are moving in the right direction so it’s a great time to be in the market.”

June 19, 2006 -- The year's strong spring housing market remained active in the first half of June with 4,074 homes changing hands, Toronto Real Estate Board President John Meehan announced today. An average of nearly 300 homes per day sold through the first 15 days of the month.

"Market conditions have been very good all spring, and the strong activity we’ve seen is a reflection of that," Mr. Meehan said. "With just a few days remaining, this spring has so far been over two per cent more active than last spring."

Jason Mercer, Senior Market Analyst for the Canada Mortgage and Housing Corporation, noted that with strong economic fundamentals remaining in place, the Toronto Area housing market will remain quite healthy.

"Home sales will remain well above the long-term average this year," Mr. Mercer said.

"Good fundamentals and lots of consistency are the key factors in this market," TREB’s President said. "It's a great time to make a switch to another home or get in the market for the first time."

Monday, June 5, 2006 -- With 9,434 sales recorded last month, May 2006 has proven to be the best month ever recorded in the 86 year history of the Toronto Real Estate Board, TREB President John Meehan announced today. "The May figure is up over two per cent from May 2005, when 9,209 sales were recorded, and up almost two per cent over the previous best ever month, June 2004, when 9,275 sales were recorded. The Toronto re-sale market is as healthy as it has ever been."

The president noted that the average price came in at $365,537 last month, compared to April's $366,683. "The key is that 17,685 new listings came onto the system in May, which pushed total inventory levels to 26,220 active listings at month-end. Both figures are up considerably over their year ago levels (seven and five per cent, respectively), and this is keeping price inflation to a reasonable level."

April stays strong

May 3, 2006 -- The resale housing market remained strong in April as 8,361 homes changed hands during the month, Toronto Real Estate Board President John Meehan announced today. The month’s results represent the third-best April ever, though activity moderated by five percent compared with April of last year.

Overall year-to-date sales at the end of the month were nearly five per cent ahead of 2005’s pace, following a record first-quarter this year.

Jason Mercer, Senior Market Analyst for the Canadian Mortgage and Housing Corporation, noted that the Toronto Area market is supported by a healthy economic foundation.

"The April sales results point to near-record demand for ownership housing,” Mr. Mercer said. “Because of steady job growth and low borrowing costs, consumers remain positive about the purchase of a home.”

Suburban Land Values Increase in Most Markets
Suburban land values increased in five of seven markets since the third quarter of 2005, with Ottawa prices rising 16 per cent to $310,000 per acre. The Toronto figure came in at $661,000 per acre. The highest prices were in Vancouver, with suburban land selling for $760,000 per acre.

Power Centre Rent Inflation to Remain Unchanged
Canada-wide power centre rental rates are expected to rise 2.4 per cent in 2006, the same amount as last year. Expenses are expected to rise between two and three per cent over the same time-frame. Toronto rents and expenses both are expected to rise 2.3 per cent.

IC&I Market Steady in March April 12, 2006

The local IC&I Market continued to trade at a sharp pace in March, with a total of 910,530 square feet of leased space changing hands during the month, Commercial Council Chair Ron Ridsdill announced today.

"Both volume and prices remained steady in March, "Mr.Ridsdill said. "While the amount of leased space stayed near the 1,000,000 square foot mark, the average cost for Industrial space (all size categories)was $5.79 sfn, up just slightly from the $5.77 sfn recorded in February. The rate for office space (all size categories)was $10.52 sfn,also within its normal range."

Sales Market Highlights

There were 77 IC&I sales recorded in March through the TorontoMLS system.Of these,35 were Industrial properties (all sizes)which sold for an average of $69.39 per square foot. This compares to the $60.56 figure derived from non-MLS sources.

Friday, March 3, 2006 -- Sales of existing homes rose to 6,756 in February, a nine per cent increase over the same month last year, TREB President John Meehan announced today. "The Toronto resale market is accelerating nicely as we move towards Spring," the President said. "It looks like another healthy year ahead of us."

The new year got off to a good start with 4,587 sales in January, up 10 per cent over the 4,153 figure recorded in January 2005, TREB President John Meehan announced today. "Last month's result was the second best January ever recorded, and an eight per cent increase over the 4,255 sales recorded in December," Mr. Meehan said. "This certainly bodes well for the resale market going forward into the new year."

February 6, 2006 -- During the first month of the year the resale housing market was ten per cent more active than it was in January 2005, Toronto Real Estate Board President John Meehan announced today. The 4,587 transactions during the month of January also made it the second-best January ever recorded.

"Overall, this is a very encouraging performance for this time of year. Last year finished as a record, so to be ahead of that pace early on shows that the market has a lot of stability heading into the busier spring months," Mr. Meehan said.

December 23, 2005 - With more than one week to go, 2005 has already set the record for the greatest number of re-sale transactions in the Greater Toronto Area, Toronto Real Estate Board President John Meehan announced today. With a total of 83,547 properties changing hands to-date, this year has surpassed the previous record of 83,501 set in 2004.

"The phenomenal number of sales this year demonstrates that consumers continue to have confidence in the real estate market," said Mr. Meehan.

Canadian Mortgage and Housing Corporation predicts that next year the Greater Toronto Area real estate market will continue its strong performance; it forecasts a total of 84,000 sales for 2006.

"In recent years, we have shattered countless records and while we are always pleased to report that new benchmarks have been set, we are even more delighted that an increasing number of families in the Greater Toronto Area recognize that investing in a home is the most sound decision you can make."

December 6, 2005 – The resale housing market finished November with five per cent more transactions than were recorded in November of 2004, setting a new record for the month, Toronto Real Estate Board President John Meehan announced today. A record total 6,646 homes changed hands during the month, eclipsing the previous mark of 6,301 transactions recorded a year ago. “ Activity in the Toronto area has remained very strong throughout the autumn season,” Mr. Meehan said. “The 2005 market has had a very solid second half, and that trend has continued again this month as we appear to be heading for another record year.” The 79,995 homes that have changed hands year-to-date is nearly one per cent higher than the record pace set in 2004.

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