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.
April brought a shift in tone for Toronto’s housing market. With mixed signals across pricing, supply, and broader economic conditions, the path forward is far from clear. Here’s what the latest data may be quietly signaling.
In April, sales in the Toronto metro area continued to strengthen, consistent with typical seasonal patterns where activity rises from January through May. Sales reached 5,946, up 18% month-over-month and 6% year-over-year, though still 25% below the 10-year average. Despite the monthly gain, this remained one of the lowest April sales volumes since at least 2006.
New listings climbed 18% month-over-month to 17,097 units in April. Despite this rise, volume trailed the prior year by 9% and sat 4% above the 10-year average. Listing volume generally increased from January through May.
Active inventory rose to 25,110 units in April, up 16% month-over-month but 8% lower year-over-year and 52% above the 10-year average. This was one of the highest April levels recorded and followed the seasonal pattern, with activity typically increasing from January to May.