TORONTO — Home sales in the Greater Toronto Area were down 23.3 per cent in April amid continued uncertainty over the economy.
The Toronto Regional Real Estate Board says 5,601 homes were sold last month, compared with 7,302 in April 2024, while sales were up 1.8 per cent from March on a seasonally adjusted basis.
The board says 18,836 new properties were listed in the GTA last month, up 8.1 per cent compared with last year.
TRREB president Elechia Barry-Sproule says if the trade relationship between Canada and the U.S. improves following last week’s federal election, there could be an uptick in home sales driven by higher consumer confidence, combined with a market growing to be more affordable and better supplied.
The average selling price decreased 5.4 per cent compared with a year earlier to $1,107,463, and the composite benchmark price, meant to represent the typical home, was down 4.1 per cent year-over-year.
Active listings hit 27,386 last month, up 54 per cent from April 2024’s inventory of 17,783 units.
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