Homeownership in the Greater Toronto Area (GTA) became more affordable in March 2025, with lower borrowing costs and declining home prices making monthly payments more manageable. TRREB President Elechia Barry-Sproule noted that further rate cuts and increased housing supply could boost buyer confidence.
Despite improved affordability, home sales fell 23.1% year-over-year, with 5,011 transactions reported. However, new listings rose 28.6% to 17,263, giving buyers more options and negotiating power. The MLS® Home Price Index Composite dropped 3.8% annually, and the average selling price declined 2.5% to $1,093,254.
TRREB CEO John DiMichele emphasized that housing remains a key issue ahead of the federal election, as affordability and supply challenges continue to shape market conditions.