July 2026
According to the latest data from TRREB, market conditions tightened compared to the same month last year, with home sales edging slightly lower while new listings dropped substantially. This combination meant active buyers faced increased competition for available properties, and if the trend continues, average selling prices could begin to level off through the second half of 2026.
GTA REALTORS® reported 5,995 home sales through TRREB’s MLS® System in July 2026, a modest 0.9 per cent decrease compared to July 2025. However, new listings declined much more significantly, falling 17.8 per cent year-over-year to 14,484 properties. Home prices remained below last year's levels but continued to show signs of stabilization. The MLS® Home Price Index (MLS® HPI) Composite benchmark was down 4.6 per cent compared to July 2025, while the average selling price reached $1,003,956, a 4.5 per cent year-over-year decline. Despite these annual decreases, the continued tightening of market conditions suggests that downward pressure on prices is easing.
Overall, the July market reflects a housing sector that is becoming increasingly balanced. With inventory continuing to shrink and demand remaining steady, buyers are facing more competition, and the market appears to be laying the foundation for stronger price growth as the second half of the year unfolds.
Sources & Notes
i - Statistics Canada, Quarter-over-quarter growth, annualized.
ii - Statistics Canada, Year-over-year growth for the most recently reported month.
iii - Bank of Canada, Rate from most recent Bank of Canada announcement.
iv - Bank of Canada, Rates for most recently completed month.
v - Information supplied by TRREB
