Buyers benefiting from more choice — new listings are up 14% (21,819 homes on the market!)

Prices have dropped — GTA average price is now $1,120,879 (down 4.5% from last May) 

An improvement in affordability - with sales down and listings up, homebuyers took advantage of increased inventory and negotiating power 

“Home ownership costs are more affordable this year compared to last. Average selling prices are lower, and so too are borrowing costs. All else being equal, sales should be up relative to 2024. The issue is a lack of economic confidence. Once households are convinced that trade stability with the United States will be established and/or real options to mitigate our reliance on the United States exist, home sales will pick up. Further cuts in borrowing costs would also be welcome news to homebuyers".