Home sales across the Greater Toronto Area saw a year-over-year increase in April 2026, signalling a tightening housing market during the first full month of spring. According to the Toronto Regional Real Estate Board (TRREB), 5,946 homes were sold through its MLS® system — up seven per cent compared to April 2025. At the same time, new listings declined by 9.3 per cent to 17,097, reducing overall supply.
Despite the tightening conditions, average selling prices edged lower compared to last year, giving buyers greater leverage in negotiations. This dynamic has created a window of opportunity for those looking to enter the market, particularly as affordability improves relative to recent peaks.
TRREB President Daniel Steinfeld noted that increased activity this spring reflects buyers taking advantage of lower prices. He added that if market conditions continue to tighten and prices stabilize, it could encourage more sidelined buyers to re-enter the market.
Meanwhile, TRREB Chief Information Officer Jason Mercer highlighted that reduced borrowing costs and softer prices have helped stimulate demand. However, he emphasized that a significant level of pent-up demand remains, suggesting further growth is possible if economic and geopolitical uncertainties ease.
Overall, the GTA housing market appears to be entering a transitional phase — balancing improved affordability for buyers with tightening inventory levels that could put upward pressure on prices in the months ahead.
