"Home sales dropped 11.2 per cent in the Greater Toronto Area last year compared to 2024, according to a new report released Wednesday. "Economic uncertainty weighed on consumer confidence" in 2025, the Toronto Regional Real Estate Board (TRREB) said in its December Market Watch report. "Over the same period, listing inventory remained elevated, allowing for selling prices to be negotiated downward, helping improve affordability," the report says."
"The annual average selling price last year was $1,067,968, a drop of 4.7 per cent compared to $1,120,241 in 2024. Real estate board calls for tax relief to ease cost of living According to TRREB president Daniel Steinfeld, the GTA housing market became more affordable last year as selling prices and mortgage rates moved lower. Steinfeld said the "improved affordability" means the market is set up to recover."
""Families and individuals need financial breathing room so they can afford a home or apartment and meet their basic needs," DiMichele said in the release. "Fair and responsible tax policies can put more money back into people's pockets, restore consumer confidence, and rebuild trust in the economy. These actions are essential to support stable households and create an economy that works for everyone.""
Home sales in the Greater Toronto Area fell 11.2 per cent in 2025, with 62,433 transactions recorded through TRREB's MLS system. New listings rose 10.1 per cent to 186,753, leaving inventory elevated and enabling downward price negotiation. The annual average selling price declined 4.7 per cent to $1,067,968 from $1,120,241 in 2024. Economic uncertainty weighed on consumer confidence while mortgage rates and selling prices moved lower, improving affordability. TRREB leaders urged tax relief from all levels of government to lower the cost of living, restore consumer confidence, support household stability, and help set the market up to recover.
Read at www.cbc.ca
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