The Toronto Regional Real Estate Board (TRREB) reports that January home sales in the GTA declined by 7.9 per cent year-over-year but increased from December 2024 by 14.5 per cent.
The month-over-month increase suggests building momentum in the market, even as year-over-year comparisons remain negative.
Average prices showed modest gains, indicating that while the market remains buyer-friendly, extreme price declines have stabilized.
New listings were also up, giving buyers more options but also suggesting that some sellers are growing more confident in the market.
Interest rate cuts from the Bank of Canada throughout late 2024 are beginning to impact the market, improving affordability for buyers.
Looking ahead, market observers expect gradual improvement through the spring, with activity picking up as rates continue to decline and buyer confidence improves.