In regard to real estate activity last month, TRREB’s Chief Information Officer said: “While uncertainty about the economy and borrowing costs persists, recent news has been more positive than expected. The latest readings on economic growth and jobs surprised to the upside. This could help bolster consumer confidence and prompt an uptick in home purchases in the months ahead, especially if home prices stabilize as we move through the fall.”
Here is the Toronto Real Estate Board’s analysis for July 2026, with graphics courtesy of Market Watch:
TORONTO, ONTARIO, August 6, 2026 – Greater Toronto Area (GTA) resale housing market conditions tightened in July 2026 compared to the same month a year earlier. Home sales edged slightly lower over that period, while new listings were down substantially. This suggests that active homebuyers faced more competition from other potential purchasers.
If this trend continues, average selling prices could level off in the second half of this year. “With sales accounting for a larger share of listings, buyers may find there is less room to negotiate moving forward. If current trends continue, home prices could start to level off compared to last year. Many would-be homebuyers are waiting for confidence in the market and broader economy to improve before making a purchase. This includes more clarity on tariffs, inflation and borrowing costs. ” said TRREB President Daniel Steinfeld.
“While uncertainty about the economy and borrowing costs persists, recent news has been more positive than expected. The latest readings on economic growth and jobs surprised to the upside. This could help bolster consumer confidence and prompt an uptick in home purchases in the months ahead, especially if home prices stabilize as we move through the fall,” said TRREB Chief Information Officer Jason Mercer.
GTA REALTORS® reported 5,995 home sales through TRREB’s MLS® System in July 2026 – a slight decrease of 0.9 per cent compared to July 2025. New listings entered into the MLS® System amounted to 14,484 – down by 17.8 per cent year-over-year.
On a seasonally adjusted basis, July 2026 home sales were up month-over-month compared to June 2026, while new listings were down, which means market conditions continued to tighten during the summer.
The MLS® Home Price Index (MLS® HPI) Composite benchmark was down by 4.6 per cent year-over-year in July 2026. The average selling price, at $1,003,956, was down by a similar annual rate of 4.5 per cent.
On a month-over-month seasonally adjusted basis, MLS® HPI Composite edged up compared to June 2026, whereas the average selling price was slightly lower.
“Housing affordability remains a priority for the region. Development charges, while essential to funding local infrastructure, have substantially increased the upfront cost of housing delivery. This, in turn, contributes to higher purchase prices and rental costs as they can amount to up to 20 per cent of a home’s purchase price. The Canada-Ontario DC Reduction Program presents a meaningful opportunity for municipalities to reduce these charges while accessing provincial funding to offset related fiscal impacts,” said TRREB CEO John DiMichele.
Click here for the full Market Watch Report.
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