Toronto’s housing market is showing early stabilization signs as spring begins, with modest monthly sales gains following several months of decline.
Resales rose 1.4% MoM in March, marking the first increase in 5 months and hinting at improving activity.
Active listings declined 8% yearly, reversing a long period of inventory build-up that peaked at multi-decade highs.
Despite this, the market remains soft with cautious buyers and strong seller competition keeping conditions balanced.
Home prices continue to fall, with the MLS HPI down 0.6% MoM and 7.4% yearly, and further near-term declines expected.