This month, TRREB’s Chief Information Officer said: “Lower home prices and borrowing costs over the past year have been a catalyst for some homebuyers this spring. However, we still have a substantial amount of pent-up demand in the marketplace. More certainty on the trade front and an easing in geopolitical tensions would result in further improvements in market activity.”
Here is the Toronto Real Estate Board’s analysis for March 2026, with graphics courtesy of Market Watch:
TORONTO, ONTARIO, May 7, 2026 – Home sales increased on a year-over-year basis in April 2026, while the supply of listings trended lower. This suggests that overall market conditions in the Greater Toronto Area (GTA) tightened during the first full month of spring.
Despite tighter market conditions, selling prices edged lower on average compared to last year, as buyers continued to benefit from ample choice and negotiating power. “We have experienced an uptick in home-buying activity so far this spring. Buyers have taken advantage of more affordable housing market conditions on the back of lower home prices. If market conditions continue to tighten and home prices level off, this could be a signal to intending homebuyers who remain on the sidelines,” said TRREB President Daniel Steinfeld.
“Lower home prices and borrowing costs over the past year have been a catalyst for some homebuyers this spring. However, we still have a substantial amount of pent-up demand in the marketplace. More certainty on the trade front and an easing in geopolitical tensions would result in further improvements in market activity,” said TRREB’s Chief Information Officer Jason Mercer.
GTA REALTORS® reported 5,946 home sales through TRREB’s MLS® System in April 2026 – an increase of seven per cent compared to April 2025.
New listings entered into the MLS® System amounted to 17,097– down by 9.3 per cent year-over-year. On a seasonally adjusted basis, April 2026 home sales and new listings were up month-over-month compared to March 2026. Sales were up by a greater monthly rate than new listings, potentially suggesting more competition between buyers in some neighbourhoods.
The MLS® Home Price Index (MLS® HPI) Composite benchmark was down by 6.6 per cent year-over-year in April 2026. The average selling price, at $1,051,969, was down by 4.9 per cent compared to April 2025. On a month-over-month seasonally adjusted basis, the average selling price edged up compared to March 2026. The MLS® HPI Composite was flat over the same period.
“We recently released a major new housing policy report, ‘Removing Roadblocks: Tackling Municipal Barriers to Housing Supply and Affordability in Ontario’, outlining the next phase of provincial housing policy reforms needed to build more of the right types of homes and improve affordability for Ontarians. While historic progress has been made, we must continue the work of removing the decades of legislative and regulatory red tape, outdated local rules, and rising municipal costs that are blocking new housing in Ontario. “This report is a roadmap for cutting red tape and unlocking new housing supply,” said TRREB CEO John DiMichele.
Click here for the full Market Watch Report.
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