Toronto’s housing market cooled further in September, as inventory surged to multi-year highs and buyers regained negotiation leverage.
The city’s MLS HPI fell 0.5% month-over-month and 5.5% year-over-year to $971,500, its tenth decline in eleven months.
Home values have dropped over $320,000 since early 2022, partially easing affordability but leaving prices well above pre-pandemic norms.
RBC expects easing prices and renewed confidence to revive buyer activity through late 2025 and early 2026.
