Greater Toronto Area home sales dip 0.9% in July 2026, average price falls 4.5%

In July 2026 the Greater Toronto Area (GTA) recorded 5,995 home sales, a 0.9% decline year‑over‑year but a 3.2% increase from June on a seasonally adjusted basis. New listings fell sharply, down 17.8% from a year earlier, while total active listings dropped 12.1% to 26,098 units.

The average selling price slipped 4.5% year‑over‑year to $1,003,956 and the MLS Home Price Index benchmark was down 4.6%. The composite benchmark price, representing a typical home, also fell 4.6%.

TRREB President Daniel Steinfeld warned that with sales accounting for a larger share of listings, buyers may have “less room to negotiate” and that many are waiting for clearer signals on tariffs, inflation and borrowing costs. Chief Information Officer Jason Mercer noted recent positive economic data could bolster consumer confidence and help stabilize prices in the coming months. CEO John DiMichele highlighted zoning and regulatory issues as factors adding to housing costs.