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<\/p>\nTORONTO, ONTARIO, June 3, 2026 \u2013 The Greater Toronto Area (GTA) resale housing market tightened in May 2026 compared to last year. Sales increased year-over-year, whereas new listings declined over the same period. As standing inventory has been absorbed, competition between buyers has likely increased in some neighbourhoods. This should see the price trend flatten and ultimately trend upwards in the months ahead. \u201cSpring sales have been stronger than last year, reflecting improved affordability stemming from lower selling prices and borrowing costs. Sales are forecast to improve further as we move through the second half of this year. Recovery would be further bolstered by positive news on the trade front along with an easing of geopolitical tensions and related uncertainty,\u201d said TRREB President Daniel Steinfeld.<\/p>\n
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\u201cInventory levels trended lower over the past year, but buyers continued to have substantial negotiating power through the spring, helping with affordability. Looking ahead, if sales strengthen further relative to listings, selling prices will level off and even start to grow as we move into 2027,\u201d said TRREB Chief Information Officer Jason Mercer. GTA REALTORS\u00ae reported 6,583 home sales through TRREB\u2019s MLS\u00ae System in May 2026 \u2013 an increase of 6.3 per cent compared to May 2025. New listings entered into the MLS\u00ae System amounted to 17,698 \u2013 down by 18.9 per cent year-over-year. On a seasonally adjusted basis, May 2026 home sales were up by 10 per cent month-over-month compared to April 2026 and new listings were down by 2.1 per cent \u2013 pointing to a monthly tightening of market conditions as well. The MLS\u00ae Home Price Index (MLS\u00ae HPI) Composite benchmark was down by 6.7 per cent year-over-year in May 2026. The average selling price, at $1,069,700, was down by 4.6 per cent compared to May 2025.<\/p>\n
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On a month-over-month seasonally adjusted basis the average selling price was up slightly compared to April 2026 and the MLS\u00ae HPI Composite edged slightly lower. \u201cTRREB supports Bill 98, the Building Homes and Improving Transportation Infrastructure Act of 2026, which contains a simple but critical truth: if we want more attainable housing, we need to make it easier, faster, and less expensive to build homes. Many of the concrete measures contained in Bill 98 align with recommendations in TRREB\u2019s recently released policy report, Removing Roadblocks: Tackling Municipal Barriers to Housing Supply and Affordability in Ontario,\u201d said TRREB Chief Executive Officer John DiMichele.<\/p>\n","protected":false},"excerpt":{"rendered":"
TORONTO, ONTARIO, June 3, 2026 \u2013 The Greater Toronto Area (GTA) resale housing market tightened in May 2026 compared to last year. Sales increased year-over-year, whereas …<\/p>\n","protected":false},"author":2,"featured_media":711,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-updates"],"yoast_head":"\n