08/07/2026
The Greater Toronto Area housing market became more competitive in July. While the number of homes sold remained relatively steady compared to last year, significantly fewer new properties came to market. With less inventory available, buyers are beginning to face more competition for quality homes.
If this trend continues, home prices are expected to stabilize during the second half of the year.
Many buyers are still taking a cautious approach as they wait for greater certainty around interest rates, inflation, tariffs, and the overall economy. However, recent economic reports have been more encouraging than expected, with stronger employment numbers and economic growth helping to improve consumer confidence. This could encourage more buyers to return to the market as we head into the fall.
July 2026 at a Glance
* 5,995 homes sold across the GTA, a slight 0.9% decrease compared to July 2025.
* 14,484 new listings came to market, representing a significant 17.8% decline from last year.
* The average GTA home sold for $1,003,956, approximately 4.5% lower than a year ago.
* On a month-to-month basis, sales increased while new listings declined, indicating that market conditions continue to tighten.
What This Means for Buyers:
Buyers still have more choice than they did during the peak market, but with fewer homes being listed, well priced properties are attracting stronger interest. Acting decisively when the right opportunity comes along may become increasingly important.
What This Means for Sellers:
With inventory continuing to shrink, sellers are facing less competition from other listings. Proper pricing, professional marketing, and strong presentation remain essential, but improving market conditions could work in sellers’ favour over the coming months.
Housing affordability also remains a key issue throughout the GTA. Industry leaders continue to advocate for reducing development fees, streamlining approvals, and updating municipal policies to help increase housing supply and improve affordability for future buyers.
