Toronto Home Sales Rise Year-Over-Year for First Time in Six Months: TRREB
In March 2026, home sales in the Greater Toronto Area experienced a year-over-year increase for the first time in six months, according to the Toronto Regional Real Estate Board (TRREB). The number of homes sold reached 5,039, which represents a 1.7% rise compared to March 2025.
Encouraging Market Trends
TRREB president Daniel Steinfeld described this uptick as “encouraging,” suggesting that more households are looking to benefit from improved affordability. In February, sales also rose by 1.4% on a seasonally adjusted basis.
Consumer Confidence and Economic Factors
Despite these positive signs, demand remains cautious. Vy Ngo, a sales representative with Big City Realty Inc., noted that potential buyers are hesitant due to ongoing geopolitical uncertainties, such as the war in Iran and trade issues. She commented on the sluggish start of the year and indicated that many buyers may still be wary.
- First two months of 2026: notably slow market activity.
- March saw a slight increase in buyers, though the market is not fully recovered.
Housing Prices Decline
The average selling price of homes in March was $1,017,796, representing a decline of 6.7% from March 2025. Additionally, the composite benchmark price fell by 7.4% year-over-year.
Future Outlook
TD Economics has revised its national forecast for 2026, anticipating a 1.8% decline in home sales and a 0.3% dip in home prices. This change contrasts sharply with previous forecasts that expected significant gains in home sales and prices.
- Previous forecast (December 2025): Expected 9.3% increase in home sales.
- Current sentiment: Economic uncertainties and rising costs may further dampen the market.
Experts express concerns that rising prices for essentials could continue to cool market activity throughout 2026. Steinfeld emphasized that buyers currently have substantial negotiating power, which has contributed to the decrease in benchmark and average selling prices.
Listings and Inventory Trends
In terms of market inventory, 14,442 new listings were introduced in March, a decrease of 16.7% compared to the previous year. Active listings across the GTA also fell by 8%, totaling 21,596.
| Property Type | Year-over-Year Change |
|---|---|
| Detached Homes | +5.2% |
| Condominiums | +1.7% |
| Semi-Detached Homes | -6.9% |
| Townhouses | -1.7% |
The City of Toronto reported a slight increase of 0.9% in home sales, with 1,913 transactions. Overall, the surrounding Greater Toronto Area saw a 2.1% rise in sales, totaling 3,126.
As spring unfolds, the housing market’s trajectory remains uncertain, influenced by both economic factors and consumer behavior. Moving forward, observers will be keen to monitor how these dynamics play out in the months ahead.
