The Greater Toronto Area housing market recorded its highest-ever inventory levels in June 2025. According to data from the Toronto Regional Real Estate Board, active listings jumped 30.8% year-over-year to 31,603 units, while home prices declined 5.4% as the market undergoes a significant rebalancing.
Average home prices fell to $1.1 million from $1.16 million in June 2024, marking a notable shift in a market that saw explosive growth in recent years. Lower prices and reduced mortgage rates are making homes more accessible to buyers.
“Buyers are taking advantage of increased choice and negotiating discounts off asking prices,” said TRREB President Elechia Barry-Sproule.
However, sales remain weak, falling 2.4% to 6,243 transactions despite the improved affordability. New listings rose 7.7% to 19,839, creating the largest supply cushion in the board’s history.
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The disconnect between rising inventory and tepid sales reflects ongoing economic uncertainty that’s keeping many potential buyers cautious, even as market conditions become more favorable for purchasers.
TRREB officials called for additional interest rate cuts and economic stability measures to boost consumer confidence. The MLS Home Price Index declined 5.5% year-over-year, signaling a sustained shift from the sellers’ market that dominated the region for years.
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