RARE’s Economic Research Department meticulously examines TREB’s monthly data releases, distilling them into an easily digestible and insightful format within our market report.
In May, sales in the Toronto metro area continued to strengthen, consistent with typical seasonal patterns where activity rises from January through May. Sales reached 6,583, up 11% month-over-month and 5% year-over-year, though still 18% below the 10-year average. Despite the monthly gain, this remained one of the lowest May sales volumes since at least 2006.
New listings edged up 4% month-over-month to 17,698 units in May. Despite this rise, volume trailed the prior year by 19% and sat 4% below the 10-year average. Listing volume generally increased from January through May.
Active inventory climbed to 26,927 units in May, up 7% month-over-month but 13% lower year-over-year and 42% above the 10-year average. This was one of the highest May levels recorded and followed the seasonal pattern, with activity typically increasing from January to May.