15-07-2025
'I don't think we are bouncing back': Struggling Toronto housing market could remain fragile through 2025, realtors say
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By Shayan Alvi
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Despite a slight month-over-month uptick in home sales in the Greater Toronto Area in June, many in the real estate industry expect that a lack of willing buyers will make for a fragile housing market for the remainder of 2025.
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Data from the Toronto Regional Real Estate Board (TRREB) showed an increase in listings, slightly higher month-over-month sales and lower average prices for June.
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' I don't think we are bouncing back, the pendulum isn't swinging back. We're just kind of in a holding pattern,' said Scott Ingram, a Toronto sales representative with Century 21 Regal Realty Inc. 'No matter how you look at price, whether you take average price or the home price index, those are softer than they were last year.'
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A total of 6,243 homes were sold in June 2025 across the Greater Toronto Area (GTA), marking a 2.4 per cent decrease from last year. New listings rose 7.7 per cent from last year to 19,839.
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The MLS Home Price Index (HPI) composite benchmark fell 5.5 per cent year over year in June, while the average selling price of $1,101,691 was down 5.4 per cent compared with June 2024. On a seasonally adjusted month-over-month basis, both the MLS HPI and average price edged lower from May.
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TRREB president Elechia Barry-Sproule said improved affordability from lower borrowing costs and the high levels of inventory were making home ownership 'a more attainable goal for many households.'
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But some realtors were reluctant to call it a rebound. Daniel Foch, chief real estate officer at Valery Real Estate Inc. in Toronto, said an increase in transactions is what signals a recovery, not necessarily just a drop in price.
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' What realtors see as a form of recovery would be more transactions. More downside on price means more transactions because if prices come down, more buyers can afford to buy those homes,' Foch said.
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However, the recovery has not started, he said, and predicted July and August will be 'slow months' before the market has any chance of picking up in the fall.
