Toronto Home Sales Drop 7.9 Percent in October
The Toronto Regional Real Estate Board reports a year-over-year decline in home sales and prices due to economic uncertainty and high borrowing costs.
Home sales in the Greater Toronto Area fell 7.9 percent year-over-year in October, with 5,603 homes sold. The Toronto Regional Real Estate Board attributed the slump to buyer hesitation driven by inflation, borrowing costs, and general economic uncertainty. Despite the annual decline, sales saw a seasonally adjusted increase of 1.2 percent compared to September.
Market pricing also trended downward during the period. The average selling price dropped 2.7 percent to $1,024,108, while the composite benchmark price decreased by 4.3 percent. Inventory tightened as new listings fell 11.9 percent and active listings dropped 10 percent from October 2025, leaving 25,098 homes available for sale.
Board President Daniel Steinfeld stated that potential buyers are monitoring Canada-U.S. trade negotiations and conflicts in the Middle East for signs of economic stability before committing to purchases.
