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<\/p>\nTORONTO, ONTARIO, August 6, 2025 \u2013 The Greater Toronto Area (GTA) experienced the best home sales result for the month of July since 2021. Sales were also up relative to listings, suggesting a modest tightening in the market compared to last year. \u201cImproved affordability, brought about by lower home prices and borrowing costs, is starting to translate into increased home sales. More relief is required, particularly where borrowing costs are concerned, but it\u2019s clear that a growing number of households are finding affordable options for homeownership,\u201d said Toronto Regional Real Estate Board (TRREB) President Elechia Barry-Sproule.<\/p>\n
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GTA REALTORS\u00ae reported 6,100 home sales through TRREB\u2019s MLS\u00ae System in July 2025 \u2013 up by 10.9 per cent compared to July 2024. New listings entered into the MLS\u00ae System totalled 17,613 \u2013 up by 5.7 per cent year-overyear. On a seasonally adjusted basis, July home sales increased month-over-month compared to June 2025. New listings also rose compared to June, but by a much lesser rate. With sales increasing relative to listings, market conditions tightened. The MLS\u00ae Home Price Index Composite benchmark fell by 5.4 per cent year-over-year in July 2025. The average selling price, at $1,051,719, was down by 5.5 per cent compared to July 2024. On a month-over-month seasonally adjusted basis, the MLS\u00ae HPI Composite and average selling price remained flat compared to June.<\/p>\n
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\u201cRecent data suggest that the Canadian economy is treading water in the face of trade uncertainty with the United States. A key way to mitigate the impact of trade uncertainty is to promote growth in the domestic economy. The housing sector can be a catalyst for growth, with most spin-off expenditures accruing to regional economies. Further interest rate cuts would spur home sales and see more spin-off expenditures, positively impacting the economy and job growth,\u201d said TRREB Chief Information Officer Jason Mercer. \u201cDespite widespread belief that the federal foreign buyer ban prohibits all foreign nationals from purchasing residential properties in Canada, there are exemptions that allow non-residents to buy property, resulting in spin-off benefits to the economy. Foreign buyers can purchase multi-unit buildings with four or more units and vacant land or land for development. Non-residents can also buy other residential properties outside urban centres, including recreational properties,” said TRREB CEO John DiMichele.<\/p>\n","protected":false},"excerpt":{"rendered":"
TORONTO, ONTARIO, August 6, 2025 \u2013 The Greater Toronto Area (GTA) experienced the best home sales result for the month of July since 2021. Sales were …<\/p>\n","protected":false},"author":2,"featured_media":635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-updates"],"yoast_head":"\n