06/05/2026
The Greater Toronto Area housing market showed renewed momentum in May, with more homes changing hands and fewer properties coming to market compared to the same time last year.
This shift is gradually bringing the market back into balance after an extended period of elevated inventory. As buyers absorb available homes, competition has started to increase in some communities, which could help stabilize prices and set the stage for future growth.
Improved affordability has been a key factor driving activity this spring. Lower home prices compared to last year, combined with reduced borrowing costs, have made homeownership more attainable for many buyers who had been waiting on the sidelines.
In May, 6,583 homes were sold across the GTA, up 6.3% from a year ago. At the same time, available listings fell by 13.3%, this declining supply of homes available for purchase is contributing to tighter market conditions.
The trend was even more apparent compared to April, with home sales increasing 10% month-over-month while new listings declined slightly. This suggests that buyer demand is strengthening faster than new supply is entering the market.
