GTA home sales rise for third straight month as prices ease

Home sales in the Greater Toronto Area rose for a third consecutive month in May compared with a year earlier, according to the Toronto Regional Real Estate Board. The board said 6,583 homes changed hands last month, up 6.3% from May 2025 and 10% from April on a seasonally adjusted basis. At the same time, prices continued to soften: the average selling price fell 4.6% year over year to $1,069,700, while the composite benchmark price dropped 6.7%. TRREB said lower prices and borrowing costs have improved affordability, helping bring more buyers back into the market. It also noted that new listings fell 18.9% from a year earlier and active inventory declined 13.3%, which has increased competition in some neighbourhoods. Some market observers said bidding activity is starting to pick up again, though buyers still have significant negotiating power.