The Toronto Regional Real Estate Board (TRREB) reported that home sales in the Greater Toronto Area (GTA) rose on a year-over-year basis in April 2026, while the number of new listings declined. This trend indicates that overall market conditions tightened during the first full month of spring. Despite the tighter conditions, average selling prices edged lower compared to last year, as buyers continued to benefit from ample choice and negotiating power.
Market Activity and Trends
GTA REALTORS recorded 5,946 home sales through TRREB's MLS System in April 2026, marking a 7 percent increase compared to April 2025. New listings entered into the system totaled 17,097, which represents a 9.3 percent decrease year-over-year. On a seasonally adjusted basis, both sales and new listings were up month-over-month compared to March 2026. However, sales rose at a greater monthly rate than new listings, potentially signaling increased competition among buyers in certain neighborhoods.
Price Movements
The MLS Home Price Index (HPI) Composite benchmark declined by 6.6 percent year-over-year in April 2026. The average selling price stood at $1,051,969, down 4.9 percent from April 2025. On a month-over-month seasonally adjusted basis, the average selling price edged up compared to March 2026, while the MLS HPI Composite remained flat over the same period.
Expert Insights
TRREB President Daniel Steinfeld commented, We have experienced an uptick in home buying activity so far this spring. Buyers have taken advantage of more affordable housing market conditions on the back of lower home prices. If market conditions continue to tighten and home prices level off, this could be a signal to intending homebuyers who remain on the sidelines.
TRREB Chief Information Officer Jason Mercer added, Lower home prices and borrowing costs over the past year have been a catalyst for some homebuyers this spring. However, we still have a substantial amount of pent-up demand in the marketplace. More certainty on the trade front and an easing in geopolitical tensions would result in further improvements in market activity.
Policy and Future Outlook
TRREB CEO John DiMichele highlighted recent policy efforts: We recently released a major new housing policy report, 'Removing Roadblocks: Tackling Municipal Barriers to Housing Supply and Affordability in Ontario,' outlining the next phase of provincial housing policy reforms needed to build more of the right types of homes and improve affordability for Ontarians. While historic progress has been made, we must continue the work of removing decades of legislative and regulatory red tape, outdated local rules, and rising municipal costs that are blocking new housing in Ontario. This report is a roadmap for cutting red tape and unlocking new housing supply.
The full report is available for review. For media inquiries, please email media@trreb.ca.
