TORONTO, ONTARIO, March 5, 2025 – Home buyers continued to benefit from substantial choice in the
Greater Toronto Area (GTA) resale market in February 2025. Home sales last month were down in
comparison to the same period last year, while listing inventory remained high, providing substantial
negotiating power for homebuyers.
"Many households in the GTA are eager to purchase a home, but current mortgage rates make it difficult for
the average household income to comfortably cover monthly payments on a typical property. Fortunately, we
anticipate a decline in borrowing costs in the coming months, which should improve affordability," said
TRREB President Elechia Barry-Sproule.
“On top of lingering affordability concerns, home buyers have arguably become less confident in the
economy. Uncertainty about our trade relationship with the United States has likely prompted some
households to take a wait and see attitude towards buying a home. If trade uncertainty is alleviated and
borrowing costs continue to trend lower, we could see much stronger home sales activity in the second half
of this year,” said TRREB Chief Market Analyst Jason Mercer.
GTA REALTORS® reported 4,037 home sales through TRREB’s MLS® System in February 2025 – down by
27.4 per cent compared to February 2024. New listings in the MLS® System amounted to 12,066 – up by 5.4
per cent year-over-year. On a seasonally adjusted basis, February sales were down month-over-month
compared to January 2025.
The MLS® Home Price Index Composite benchmark was down by 1.8 per cent year-over year in February
2025. The average selling price, at $1,084,547, was down by 2.2 per cent compared to the February 2024.
On a month-over-month basis, the MLS® HPI Composite and the average selling price edged lower after
seasonal adjustment.
“With the Ontario provincial election just behind us and the federal political situation in flux, there is a lot to
consider from a policy perspective when it comes to housing. Not only do existing policy makers and those
vying for high public office need to make clear their direction on housing supply and affordability, but they
also need to be clear on how they intend to tackle issues related to trade and the economy. Clear direction
will go a long way to strengthen consumer confidence,” said TRREB Chief Executive Officer John DiMichele
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