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.
July’s numbers tell a story of quiet adjustment. As some trends strengthened and others softened, Toronto’s housing market continued to search for equilibrium. The latest data uncovers the subtle forces shaping what could be the next phase of the market.
In July, sales in the Toronto metro area declined to 5,995, down 11% month-over-month and 2% year-over-year, remaining 14% 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 16% month-over-month to 14,484 units in July, down 18% year-over-year and 2% 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 26,098 units in July, down 5% month-over-month, while remaining 14% lower year-over-year and 36% above the 10-year average. The decline was in line with the typical seasonal pattern, with active inventory generally decreasing from June through December.