Tighter spring conditions met softer prices in April's GTA market
Homebuyers edged back into the Greater Toronto Area market in April as sales rose for a second straight month and new listings pulled back, even as prices remained below last year’s levels.
GTA REALTORS reported 5,946 sales through the Toronto Regional Real Estate Board’s (TRREB) MLS system in April 2026, up 7% from a year earlier.
New listings fell 9.3% to 17,097, while total active listings declined 6.4% to 25,110.
The MLS Home Price Index composite benchmark was down 6.6% year over year, and the average selling price slipped 4.9% to $1,051,969.
Sales up, listings down, prices softer
For brokers, the configuration looked familiar: tighter conditions, but still a market that favoured buyers for much of the past year.
TRREB’s April figures followed a March uptick in activity and extended a gradual shift away from the deep slowdown since last spring, when April 2025 sales plunged amid rising inventory and cautious buyers.
“We have experienced an uptick in home buying activity so far this spring. Buyers have taken advantage of more affordable housing market conditions on the back of lower home prices. If market conditions continue to tighten and home prices level off, this could be a signal to intending homebuyers who remain on the sidelines,” said TRREB president Daniel Steinfeld.
“Lower home prices and borrowing costs over the past year have been a catalyst for some homebuyers this spring. However, we still have a substantial amount of pent-up demand in the marketplace. More certainty on the trade front and an easing in geopolitical tensions would result in further improvements in market activity,” said TRREB chief information officer Jason Mercer.
Buyers still cautious despite improved affordability
Lower rates and prices eased monthly payments while buyers waited for clearer signals on inflation, monetary policy and employment. Those themes remained in play this spring, with activity still below long-term norms even as affordability modestly improved and fixed rates stabilized.
Against that backdrop, TRREB continued to press for structural change. “We recently released a major new housing policy report, ‘Removing Roadblocks: Tackling Municipal Barriers to Housing Supply and Affordability in Ontario,’ outlining the next phase of provincial housing policy reforms needed to build more of the right types of homes and improve affordability for Ontarians,” said TRREB CEO John DiMichele.
“This report is a roadmap for cutting red tape and unlocking new housing supply,” he said.
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