TORONTO, July 3, 2026 — The Greater Toronto Area housing market continued its gradual recovery in June, with home sales rising for another consecutive month as industry experts predict stronger buyer competition and potential price growth during the second half of the year.
According to the Toronto Regional Real Estate Board, a total of 6,770 residential properties were sold across the GTA in June, representing a 9.4 per cent increase compared with the same month last year. On a seasonally adjusted basis, sales also edged up 1.4 per cent from May, reflecting growing confidence among buyers despite ongoing affordability challenges.
While sales activity strengthened, home prices remained below last year’s levels. The average selling price across the Greater Toronto Area stood at $1,058,658, a decline of 3.9 per cent from June 2025. The board’s composite benchmark price, which reflects the value of a typical home, also recorded a 5.4 per cent year-over-year decrease.
Daniel Steinfeld said the market experienced a noticeable improvement during the second quarter following a relatively slow beginning to 2026. He expects the momentum to continue as borrowing conditions improve and more buyers return to the market. Increased demand and stronger competition among purchasers could place upward pressure on home prices in the months ahead.
The supply of newly listed homes eased during June, with 17,282 properties entering the market, down 12.9 per cent compared with a year earlier. Overall active inventory also declined by 13.5 per cent to 27,329 listings across the Greater Toronto Area, suggesting that the gap between supply and demand could begin to narrow if sales continue to accelerate.
Real estate analysts note that lower borrowing costs, improving consumer confidence and continued population growth remain important factors supporting the GTA housing market. However, affordability continues to be a key concern for many prospective buyers, particularly first-time homeowners navigating one of Canada’s most expensive real estate markets.
As the market enters the traditionally busy summer and fall seasons, industry observers will be watching closely to see whether stronger demand and tighter inventory translate into sustained price appreciation across the Greater Toronto Area.
Source: Adapted from The Canadian Press.