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.
October revealed a market showing signs of recovery, but struggling to regain its footing, as seasonal sales gains were offset by continued price declines, fragile new home activity, and mounting economic pressures.
In October, sales in the Toronto metro area rose to 5,603 units, up 11% month-over-month but down 8% year-over-year, and 22% below the 10-year average. The monthly increase was consistent with typical seasonal patterns, as sales volumes historically declined from June through December, with a brief uptick in October.
New listings fell to 14,173 units in October, down 14% month-over-month and 12% lower year-over-year, moving to match the 10-year average. The decrease was in line with the typical seasonal pattern, as listing volumes generally trend downward from June through December.
In October, active listings fell 4% month-over-month to 25,098 units. They remained 10% lower year-over-year but stood 33% above the 10-year average. This decrease aligned with typical seasonal patterns, as inventory historically declined from June through December.