Toronto Housing Sales Rise for Second Month as Buyers Return to Market
Toronto home sales rose 6 per cent in April, the second straight month of higher activity, as buyers benefited from relatively lower prices on homes and mortgages.
There were 4,829 transactions in the Toronto region after adjusting for seasonal influences, according to the Toronto Regional Real Estate Board or TRREB.
That momentum built on a 1.3-per-cent increase in purchases in March over February, but the volume of transactions is still lower than historical for the busy spring period. Last month’s activity was 46 per cent below the 10-year average for April sales.
TRREB said this highlights the fact that there is still substantial pent-up demand that has yet to be satisfied.
Last month, there was buyer interest in every type of property with purchases of detached houses and condominium units leading the way.
Read More On Our Daily Stock Market Reports – Stocks Slip as U.S.–Iran Tensions Weigh on Sentiment
Although more homeowners put their properties up for sale in April, sales outpaced the increase in new listings.
TRREB said that could mean there is more competition between buyers in some neighbourhoods.
The home price index, industry’s preferred measure of values, was flat at $929,300 in April and down 6 per cent compared with the same month in 2025.
Home values fell in the areas surrounding the city of Toronto, dropping 5 per cent year-over-year. In York region, to the north of the city, the home price index was down 10 per cent over the same period. In Peel, to the west, the typical price decreased 7.5 per cent.
The board’s chief information officer Jason Mercer said the lower values and relatively cheaper mortgages have acted as a catalyst for some buyers this spring.
Mr. Mercer predicted that homebuying activity would increase if there was some resolution to the U.S. trade war and the U.S.-Israeli war with Iran.
Although mortgages have become more expensive since the Middle East war began in late February, they are still more affordable than a few years ago.
The common five-year fixed mortgage had an average interest rate of 4.19 per cent in April, according to MortgageLogic.news data. That compares with an average of 4.84 per cent in the same month in 2024.
Conrad Zurini, a Re/Max realtor with more than three decades of experience selling homes, said he is starting to see more buyer confidence because home prices are no longer falling as much.
He said buyers may be more motivated to make their purchase now instead of later this year given that mortgage rates could creep higher. Last week, the Bank of Canada warned that it could raise interest rates if oil prices remain elevated.
This article was first reported by The Globe and Mail
