Renewed Consumer Confidence Key to Housing Market Recovery

TORONTO, ONTARIO, December 3, 2025 -Greater Toronto Area (GTA) home sales, new listings, and average selling price were down compared to a year earlier in November 2024. Intending homebuyers remained on the sidelines awaiting more positive economic news.  

“There are many GTA households who want to take advantage of lower borrowing costs and more favourable selling prices. What they need most is confidence in their long-term employment outlook. Fortunately, we saw encouraging news on jobs and the broader economy in November. If this positive momentum continues, consumer confidence will strengthen, and more people will be in a position to consider purchasing a home in 2026,” said TRREB President Elechia Barry-Sproule. 

GTA REALTORS® reported 5,010 home sales through TRREB’s MLS® System in November 2025 – down by 15.8 per cent compared to November 2024. New listings entered into the MLS® System amounted to 11,134 – down by four per cent year-over-year.  On a seasonally adjusted basis, November home sales were down slightly month-overmonth compared to October 2025. New listings also edged lower compared to October. 

The MLS® Home Price Index (MLS® HPI) Composite benchmark was down by 5.8 per cent year-over-year in November 2025. The average selling price, at $1,039,458, was down by 6.4 per cent compared to November 2024.  

On a month-over-month seasonally adjusted basis both the MLS® HPI Composite and the average selling price remained close to October figures. The MLS® Composite was down slightly, whereas the average selling price edged up. 

“November reports on employment and economic growth were much stronger than expected. The Canadian economy may be weathering trade-related headwinds better than expected. More certainty on the trade front coupled with positive economic impacts of recently announced infrastructure projects could improve homebuyer confidence moving forward,” said TRREB Chief Information Officer Jason Mercer.

“Homebuyers are currently benefitting from a well-supplied resale market. However, as this inventory is absorbed, new construction is required to fill the housing pipeline. It will be key to see projects that bridge the gap between condominium apartments and traditional single-family homes. Home construction results in large economic benefits that would help in today’s economic climate,” said TRREB CEO John DiMichele.  "All three levels of government should offer further incentives to build more homes for Ontarians,” continued DiMichele. 

GTA REALTORS Release August Stats

TORONTO, ONTARIO, September 4, 2025 – August home sales reported by the Toronto Regional Real Estate Board (TRREB) were up on a year-over-year basis. Over the same period, home buyers benefitted from an even larger increase in the inventory of listings. Average selling prices continued to be negotiated downward due to the elevated choice across market segments. 

“Compared to last year, we have seen a modest increase in home sales over the summer. With the economy slowing and inflation under control, additional interest rate cuts by the Bank of Canada could help offset the impact of tariffs. Greater affordability would not only support more home sales but also generate significant economic spin-off benefits,” said TRREB President Elechia Barry-Sproule. 

Greater Toronto Area (GTA) REALTORS® reported 5,211 home sales through TRREB’s MLS® System in August 2025 – up by 2.3 per cent compared to August 2024. New listings entered into the MLS® System amounted to 14,038 – up by 9.4 per cent year-over-year. On a seasonally adjusted basis, August home sales edged lower month-over-month compared to July 2025.

In contrast, new listings increased compared to July, reaffirming that buyers continue to benefit from a well-supplied market. The MLS® Home Price Index Composite benchmark was down by 5.2 per cent year-over-year in August 2025. The average selling price, at $1,022,143, was also down by 5.2 per cent compared to August 2024. On a month-over month seasonally adjusted basis, the MLS® HPI Composite and average selling price remained flat compared to July. 

“A household earning the average income in the GTA is still finding it challenging to afford the monthly mortgage payment associated with the purchase of an average priced home. This is even with lower borrowing costs and selling prices over the past year. Further relief in borrowing costs would see an increased number of buyers move off the sidelines to take advantage of today's well-supplied market,” said TRREB Chief Information Officer Jason Mercer.  “New, large scale infrastructure projects, including affordable housing, public transit, ports and shipbuilding will be important for sustaining Canada’s economic sustainability in the medium-to-long term. However, in the short term, spurring consumer spending on large ticket items like housing could lead recovery, as it has in previous economic cycles,” said TRREB Chief Executive Officer John DiMichele.

GTA Listing Inventory Remained High, Providing Substantial Choice and Negotiating Power for Homebuyers (Feb 2025)

TORONTO, ONTARIO, March 5, 2025 – Homebuyers continued to benefit from substantial choice in the Greater Toronto Area (GTA) resale market in February 2025. Home sales last month were down compared to the same period last year, while listing inventory remained high, providing substantial negotiating power for homebuyers.  

"Many households in the GTA are eager to purchase a home, but current mortgage rates make it difficult for the average household to comfortably afford monthly payments on a typical property. Fortunately, we anticipate a decline in borrowing costs in the coming months, which should improve affordability," said TRREB President Elechia Barry-Sproule. 

“On top of lingering affordability concerns, homebuyers have arguably become less confident in the economy. Uncertainty about our trade relationship with the United States has likely prompted some households to take a wait-and-see attitude towards buying a home. If trade uncertainty is alleviated and borrowing costs continue to trend lower, we could see much stronger home sales activity in the second half of this year,” said TRREB Chief Market Analyst Jason Mercer.  

GTA REALTORS® reported 4,037 home sales through TRREB’s MLS® System in February 2025 – down by 27.4 per cent compared to February 2024. New listings in the MLS® System amounted to 12,066 – up by 5.4 per cent year-over-year. On a seasonally adjusted basis, February sales were down month over month compared to January 2025.  The MLS® Home Price Index Composite benchmark was down by 1.8 per cent year over year in February 2025. The average selling price, at $1,084,547, was down by 2.2 per cent compared to the February 2024. On a month-over-month basis, the MLS® HPI Composite and the average selling price edged lower after seasonal adjustment.  

“With the Ontario provincial election just behind us and the federal political situation in flux, there is a lot to consider from a policy perspective when it comes to housing. Not only do policymakers and those vying for high public office need to make clear their direction on housing supply and affordability, but they also need to be clear on how they intend to tackle issues related to trade and the economy. Clear direction will go a long way to strengthen consumer confidence,” said TRREB Chief Executive Officer John DiMichele.