FINWIRES · TerminalLIVE
FINWIRES

Greater Toronto Area's Housing Supply Tightens as Sales and Listings Decline in August, TRREB Says

By

The Greater Toronto Area's (GTA) housing market tightened in August, with both sales and new listings declining year-over-year, according to the Toronto Regional Real Estate Board (TRREB) on Thursday.

TRREB wrote in a note that home sales were down 2.1% annually to 5,057, while new listings fell 14.1% to 12,075. The decline in listings is limiting buyer choice in some neighbourhoods and could set the stage for renewed price growth.

The MLS HPI Composite benchmark fell 4.5% annually, while the average selling price declined 2.7% to C$993,410, added TRREB. On a seasonally adjusted monthly basis, the benchmark was essentially flat, while the average price edged higher.

Improving economic conditions and relatively stable mortgage rates have helped affordability, but uncertainty around US trade, inflation and the path for borrowing costs continues to constrain demand, according to TRREB.

With inventory tightening, market conditions could gradually tilt further toward sellers in the coming months, it said.

Related Articles

International

Australia Trade Balance Falls in July

Australia's goods balance recorded a seasonally adjusted surplus of AU$1.92 billion in July, up from AU$2.34 billion in June, according to data published by the Australian Bureau of Statistics on Thursday.Goods exports fell 3.3%, or AU$1.58 billion, to AU$46.26 billion, driven by a decrease in non-monetary gold.Goods imports fell 2.5%, or AU$1.16 billion, to AU$44.34 billion, driven by lower fuel and lubricants.

ASX 200
International

RatingDog China Services PMI Quickens in August

Business activity across China's private service sector expanded in August, with the headline RatingDog China General Services Business Activity Index, compiled by S&P Global, coming in at 51.4, according to data released on Thursday.The latest reading beat the consensus forecast of 50.6 tracked by Investing.com and compared with the 50.4 recorded in the previous month.The monthly momentum was primarily driven by new business, greater market demand, financial improvements, client recruitment, and innovation.

Shanghai Composite^SZSE
International

RatingDog China Composite PMI Quickens in August

Business activity across China's private sector expanded in August, with the headline RatingDog China Composite Output Index, compiled by S&P Global, coming in at 52.1, according to data released on Thursday.The latest print, which aggregates combined performance figures across both the manufacturing and service sectors, compared with 50.8 in the previous month. A reading above 50 indicates an overall expansion in private sector activity, while a figure below signals a contraction.The reading was in contrast with the official government composite PMI, which stood at 49.5.The monthly momentum reflected a faster pace of growth in output and new businesses in both manufacturing and services sectors in August, with the RatingDog China General Manufacturing PMI at 51.5 and the RatingDog China General Services Business Activity Index at 51.4.

Shanghai Composite^SZSE