The Greater Toronto Area (GTA) housing market is slowly showing signs of recovery, according to the latest update from the Toronto Regional Real Estate Board (TRREB). Although June 2025 sales were slightly below last year’s numbers, improved affordability and rising inventory are encouraging more buyers to re-enter the market.

📉 More Affordable Than Last Year

Thanks to declining interest rates and slightly lower home prices, affordability is improving. The average selling price in June was $1,101,691, down 5.4% compared to June 2024. Mortgage rates are also lower than they were a year ago, giving buyers more breathing room when it comes to monthly payments.

TRREB President Elechia Barry-Sproule notes that “with more listings available, buyers are taking advantage of increased choice and negotiating discounts off asking prices.” For those waiting on the sidelines, this could be the window of opportunity.

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📊 Market Snapshot – June 2025

• Home Sales: 6,243 (↓ 2.4% year-over-year)

• New Listings: 19,839 (↑ 7.7% year-over-year)

• MLS® HPI Benchmark: ↓ 5.5% year-over-year

• Average Price: $1,101,691 (↓ 5.4% year-over-year)

On a seasonally adjusted basis, sales in June rose compared to May, while new listings declined, continuing a tightening trend that began in the spring.

🏛️ What Could Push Sales Even Higher?

TRREB’s Chief Information Officer, Jason Mercer, highlighted two key factors that could further support the housing market:

1. A strong trade deal with the U.S. – More economic stability would boost consumer confidence.

2. Two more rate cuts – Lower mortgage payments could make homeownership achievable for more households.

🛡️ Safety Concerns & Government Response

Beyond economics, safety is becoming a concern for many GTA residents. TRREB CEO John DiMichele addressed growing fears about home invasions and carjackings, and voiced support for a new federal crime bill aimed at stricter bail conditions and sentencing.

🏠 What Does This Mean for You?

If you’re considering buying, selling, or refinancing in the GTA, now may be the right time. With interest rates lower and more homes on the market, savvy buyers are negotiating better deals.

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