Toronto home sales rebound as lower prices attract buyers

Tuesday 07 April 2026 - 10:45

Home sales in the Greater Toronto Area (GTA) rose in March for the first time in six months, signaling renewed interest from buyers drawn by declining prices, according to data from the Toronto Regional Real Estate Board.

Seasonally adjusted sales increased by 1.4% month-over-month to 4,546 units, reversing the six-month downward trend. Meanwhile, the home price index dropped 0.6% to C$928,000 ($666,954), marking the tenth consecutive monthly decline.

Daniel Steinfeld, president of the board, said the uptick suggests that more households are taking advantage of improved affordability as the spring market begins. Year-over-year, sales rose 1.7%, while new listings fell 16.7%, reflecting a more balanced market and a shift toward buyers seizing opportunities in a softer pricing environment.

The GTA housing market, encompassing Toronto and surrounding municipalities, continues to adjust to changing economic conditions, showing signs that reduced home prices can stimulate demand and bring activity back to the market.