Did the Ontario government’s Fair Housing Plan, announced in April 2017, have an impact on the market? The total dollar value of all TREB transactions indicates a resounding “yes”.
The value of sales in the TREB regions over the period January to April 2017 were higher than in 2016 by $8.6 billion. However, each month from May to November 2017 had a total value of transactions less than the previous year, which resulted in a $14.5 billion total sales shortfall compared to the same period in 2016.
Year-to-date sales are currently down by $6 billion in 2017 when compared to 2016, which is 7.5% less than last year.
You can read the original November 2017 TREB Market Watch publication here.