08/08/2025
July Home Sales Rebound in the GTA | Best July Since 2021
After a quiet spring, July brought a welcome uptick in market activity across the Greater Toronto Area. TRREB reported 6,100 home sales last month, a 10.9% increase compared to July 2024, marking the strongest July performance since 2021. On a seasonally adjusted basis, sales also improved month over month, suggesting that more buyers are returning to the market as affordability gradually improves.
While average prices remain lower on an annual basis, they’ve largely stabilized in recent months, providing a more accessible entry point for many prospective buyers. TRREB President, Elechia Barry-Sproule, credits this growth to softening home prices and reduced borrowing costs, both of which are helping more households achieve homeownership.
Supporting this trend, the Bank of Canada has held its policy interest rate steady at 2.75% following seven cuts since June 2024, which is a significant shift from the 5.0% peak. With inflation showing signs of moderation and economic uncertainty tied to U.S. trade tensions, further rate relief could spark even greater confidence among buyers.
Housing can play a key role in supporting economic growth. As affordability continues to improve, and if interest rates decline further, the housing sector could serve as a powerful catalyst for both market momentum and broader economic recovery in the months ahead.
Whether you're thinking of buying, selling, or want to understand how today's market impacts you, I'm here to guide you with clarity and confidence this summer and beyond. Don't hesitate to contact me to get started.
