06/10/2026
MAY HOUSING UPDATE 🏡
📈 Sales & Listings:
6,583 homes sold in May 2026, a 6.3% increase compared to May 2025.
New listings totalled 17,698, down 18.9% year-over-year, meaning significantly fewer homes entered the market compared to last May.
On a seasonally adjusted basis, sales increased 10% compared to April 2026, while new listings declined by 2.1%, pointing to tighter market conditions and increased competition among buyers in some neighbourhoods.
💰 Prices:
The MLS® Home Price Index (HPI) Composite benchmark was down 6.7% year-over-year in May 2026.
The average selling price was $1,069,700, representing a 4.6% decrease compared to May 2025.
On a month-over-month seasonally adjusted basis, the average selling price increased slightly compared to April 2026, while the MLS® HPI Composite edged slightly lower.
📊 Market Trends & Context:
The GTA housing market continued to tighten in May as sales increased and new listings declined compared to last year.
Lower borrowing costs and improved affordability have encouraged more buyers to re-enter the market, contributing to stronger spring sales activity.
As available inventory continues to be absorbed, buyers may begin to face increased competition in certain areas, which could support price stabilization and future price growth.
TRREB expects sales activity to strengthen further through the second half of 2026, particularly if economic conditions improve and uncertainty related to trade and global events eases.
TRREB also voiced support for Ontario’s Bill 98, which aims to reduce barriers to housing development, speed up approvals, and improve housing affordability across the province.
🧭 Overall Takeaway:
May marked another month of improving market activity across the GTA. With sales rising, listings declining, and inventory levels tightening, the market is gradually moving toward more balanced conditions. While prices remain below last year’s levels, growing demand and shrinking supply could lead to greater price stability and increased competition as we move into the second half of 2026.
Kasia Gorzkowski | REALTOR®
Your Move. Your Future.
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