Those seeking to buy a home in the GTA are in a better place this year than last year. The Toronto Regional Real Estate Board (TRREB) reports that the GTA housing market experienced an improvement in affordability in May 2025 relative to the same period a year earlier, a trend seen throughout much of this spring season.
Sales activity increased as more buyers returned to the market, encouraged by lower interest rates and improved affordability.
The sales-to-new-listings ratio tightened, indicating that demand is beginning to catch up with supply in some market segments.
Average prices showed modest gains on a month-over-month basis, though year-over-year comparisons remain mixed depending on the property type and location.
Market observers note that conditions are becoming more balanced, moving away from the extreme buyer's market seen earlier in the year.
Looking ahead, continued rate cuts from the Bank of Canada could further stimulate demand and support a gradual recovery in prices.