Updates on the Greater Toronto Area resale housing market have been prominent in recent news headlines, and with good reason. People from around the world are excited about living in our city and statistics reflect this fact: July for example, saw a record number of transactions for the month, with 9,880 homes changing hands.
I am excited about representing the Greater Toronto Area's more than 41,000 REALTORS® during the next 12 months, as President of the Toronto Real Estate Board.
I see it as a great opportunity to share information with you about the real estate market in our city, which is teeming with potential. I believe that as a centre of finance, innovation and creativity, Toronto is destined to become one of the world's great mega-cities. In fact, the Globalization and World Cities Research Network already classifies ours as an alpha city, one that links major economic regions into the global economy.
Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 7,998 residential transactions through the TREB MLS® System in August 2015. This result represented a 5.7 per cent increase compared to 7,568 sales reported in August 2014.