TREB announced that GTA REALTORS® reported 11,992 sales in June 2015. This is a new record for June and an 18.4 per cent increase in comparison to June 2014 result of 10,132.
Another record month of sales for the Toronto Real Estate Board - what does it all mean? First, we must note that the membership at TREB has continued to increase by about 2,000 members per year, net immigration to Greater Toronto is over 100,000 per year, the mortgage rates are low and the Canadian dollar makes Canada on sale by 20% to foreign buyers.
This will push the yearly volume to over 100,000 sales. However, if you think that this means members of TREB make a lot of money, remember that it has 42,000 members. As the pie gets bigger there are more mouths to feed...
Title photo by wyliepoon