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.
February hinted at renewed momentum in Toronto’s housing market—but the bigger picture remains uncertain. Behind the rebound lies a complex mix of signals shaping where the market may head next. The latest data reveals a landscape still searching for balance.
In February, Toronto Metro sales began to strengthen, which is typical for this time of year, as sales usually increase from January to May. They rose to 3,868, up 26% month-over-month, down 4% year-over-year, and 39% below the 10-year average. Despite the increase, this represented the lowest February sales volume since at least 2006.
New listings dipped to 10,705 in February, down 1% month-over-month, 11% year-over-year, and 5% below the 10-year average. As listing activity typically rises from January through May, the decline was unusual.
Active inventory rose to 19,314 units in February, up 7% month-over-month, 1% lower year-over-year and 66% above the 10-year average. Notably, this marked the first time since July 2023 that active inventory fell below its year-ago level. The number of active listings typically increases from January through May.