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.
August brought a noticeable shift in Toronto’s housing market, as familiar seasonal patterns gave way to a more complicated picture. Beneath the latest movements, some signals strengthened while others lost ground. The numbers tell a story of changing momentum.
In August, sales in the Toronto metro area fell to 5,057 units, down 16% month-over-month and 3% year-over-year, standing 24% below the 10-year average. The decline was in line with the typical seasonal pattern, as sales volumes generally decrease from June through December.
New listings fell 17% month-over-month to 12,075 units in August, down 14% year-over-year and 4% below the 10-year average. The decrease was in line with the typical seasonal pattern, as listing volume generally declines from June through December.
Active inventory declined to 24,482 units in August, down 6% month-over-month, while remaining 11% lower year-over-year and 37% above the 10-year average. The decline was in line with the typical seasonal pattern, with active inventory generally decreasing from June through December.