GTA Home Sales Reach New Record

Home sales in the Greater Toronto, ON, Area (GTA) reached a new record for the month of November, says the Toronto Regional Real Estate Board (TRREB). There were d 9,017 home sales through TRREB’s MLS system in November, 3.3 per cent above the November 2020 results. However, new listings were down by 13.2 per cent year-over-year. “For far too long, governments have focused on short-term Band-aid policies to artificially suppress demand. Current market activity highlights decisively that these policies do not work and unless governments work together to cut red tape, streamline the approval processes, and incentivize mid-density housing, ongoing housing affordability challenges will escalate,” says Kevin Crigger. president at TRREB.