According to the Toronto Regtional Real Estate Board, the Greater Toronto Area (GTA) experienced the best home sales in terms of volume for the month of July since 2021. The increase in sales relative to listings was also up, pointing to a slight tightening of the market compared to last year.

“Improved affordability, brought about by lower home prices and borrowing costs is starting to translate into increased home sales," says Toronto Regional Real Estate Board (TRREB) President Elechia Barry-Sproule. "More relief is required, particularly where borrowing costs are concerned, but it’s clear that a growing number of households are finding affordable options for homeownership.” 

 While sales increased, the MLS® Home Price Index Composite benchmark fell 5.4 per cent year-over-year in July 2025. The average selling price, at $1,051,719, was down by 5.5 per cent compared to July 2024. On a month-over-month seasonally adjusted basis, the MLS HPI Composite and average selling price remained flat compared to June.

“Recent data suggest that the Canadian economy is treading water in the face of trade uncertainty with the United States," says said TRREB Chief Information Officer Jason Mercer. "A key way to mitigate the impact of trade uncertainty is to promote growth in the domestic economy. The housing sector can be a catalyst for growth, with most spin-off expenditures accruing to regional economies. Further interest rate cuts would spur home sales and see more spin-off expenditures, positively impacting the economy and job growth.” 

“Despite widespread belief that the federal foreign buyer ban prohibits all foreign nationals from purchasing residential properties in Canada, there are exemptions that allow nonresidents to buy property, resulting in spin-off benefits to the economy," says TRREB CEO John DiMichele. "Foreign buyers can purchase multi-unit buildings with four or more units and vacant land or land for development. Non-residents can also buy other residential properties outside urban centres, including recreational properties,” 

“Moreover, temporary workers and international students can purchase residential property under defined circumstances under the ban extended until January 2027,” continued DiMichele.