GTA Home Prices Fall Below $1M, Expect Further Decline: TRREB Predicts
The Toronto Regional Real Estate Board (TRREB) has provided a forecast indicating that the decline in home prices will continue throughout the first half of 2026.
GTA Home Prices Decline Below $1 Million
In January 2026, Toronto’s housing market experienced a significant downturn. Home sales decreased by 19.3% compared to the previous year. The average selling price fell by 6.5%, bringing it to $973,289.
Market Statistics Overview
- Home Sales: 3,082 in January 2026
- Average Selling Price: $973,289
- Active Listings: 17,975
- Annual Sales Decline: 19.3%
- Price Drop: 6.5%
- Increase in Active Listings: 8.1%
Future Predictions by TRREB
The board anticipates continued weak home prices due to high inventory levels. The increased supply is likely to drive average selling prices lower in early 2026. However, should consumer confidence improve, prices might stabilize later in the year.
Consumer Sentiment and Market Challenges
Households remain hesitant to commit to long-term mortgage payments, as economic uncertainty looms. TRREB President Daniel Steinfeld emphasizes the cautious stance many buyers are taking in the current market.
Changing Buyer Intentions
An Ipsos survey indicates a decline in homebuying intentions in the Greater Toronto Area. In 2025, the interest was at 27%. This year, it has dropped to 22%, reflecting a 5 percentage point decrease.
As 2026 unfolds, the real estate outlook for the Greater Toronto Area remains uncertain, with many factors influencing both buyer attitudes and market dynamics. For further updates and insights, visit Filmogaz.com.
