September 2026
The Greater Toronto Area housing market experienced a slowdown in September 2026, as economic uncertainty, inflation concerns, and borrowing costs continued to influence buyer confidence. Many prospective homebuyers appear to be taking a wait-and-see approach, resulting in lower sales activity compared to the same period last year.
According to the latest data from TRREB’s MLS® System, GTA REALTORS® reported 5,040 home sales in September 2026, representing a nine per cent decrease compared to September 2025. New listings also declined, with 16,500 properties entering the market, down 14.4 per cent year-over-year.
The slowdown was also evident on a month-over-month basis. Seasonally adjusted figures showed that both home sales and new listings declined compared to August 2026, suggesting that buyer activity and overall market momentum softened heading into the fall.
Beyond economic conditions, upcoming municipal elections could also play an important role in shaping the GTA housing market. TRREB President Daniel Steinfeld highlighted that decisions surrounding housing affordability, supply, and the overall cost of homeownership will be important factors influencing buyer confidence and housing policy across the GTA and Simcoe County over the next four years.
Home prices continued to trend below last year's levels. The MLS® Home Price Index (MLS® HPI) Composite benchmark declined by 4.7 per cent year-over-year, while the average selling price reached $1,006,409, representing a 5.1 per cent decrease compared to September 2025. On a seasonally adjusted basis, both the MLS® HPI Composite benchmark and average selling price edged lower compared to August.
Overall, September's market data reflects a cautious GTA housing market, with buyers remaining hesitant amid ongoing economic uncertainty. While lower prices may present opportunities for those considering a purchase, continued uncertainty surrounding the economy and borrowing costs is likely to remain a key influence on market activity as we move further into the fall.
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
