08/13/2026
August 2026
Hello Friend,
The Greater Toronto Area housing market is quietly rebalancing. As the Toronto real estate board members reported 5,995 home sales in July, a similar amount to July of 2025, the number of new listings, however, was significantly lower than a year ago, down 17.8%. There are 26,098 homes available for sale, and with approximately 6,000 sales per month, this means that the average buyer now only has a choice of about 4 homes. This tightening of homes for sale is the first step in prices potentially starting to recover.
Other factors that may impact today's housing market include stronger buyer confidence in the market and the broader economy, such as more clarity on tariffs, inflation and borrowing costs. Recent news has been more positive than expected. The latest great readings on economic growth and the surprising July job number increase of 75,000 are potential catalysts that could further help bolster consumer confidence and prompt an uptick in home purchases in the months ahead.
All in all, I feel confident in the market and believe that we are well on our way towards increasing numbers of sales and prices starting their road to recovery. While the average price was down roughly 4.5% year over year, the seasonally adjusted home price was up slightly from June. By all indications, it appears that the market is finding a bottom. The fact is that the prices of land and construction continue to increase, and our population will continue to grow. Those factors mean that prices will increase over the long run. Frankly it's not a question of if, it’s a question of when.
While some people are not ready to “jump” into the market, now is a great time to explore! Get the lay of the land, check out areas and get qualified for financing. If rates jump, it’ll be too late to get the lower rate. But by getting prequalified, you can lock in a rate for 4 months, with no commitment to buy.
As always, if you are considering buying, or have a friend who is, please give me a call directly. It's never a bad time to talk real estate! Let me put my experience and expertise to work for you.
Have a great month of August.
Sam Huang, MA
RE/MAX Realtron Realty Inc.
Direct: 416-274-9008