GTA Housing Market Continues To Balance Out

Greater Toronto, ON, Area (GTA) housing markets are continuing to evolve in response to higher borrowing costs. GTA REALTORS report 7,283 sales through Toronto Regional Real Estate Board’s (TRREB’s) MLS System in May, down 38.8 per cent compared to May 2021 and down nine per cent compared to April of this year. The number of active listings was up on a year-over-year basis by 26 per cent with sales down and new listings trending flat to slightly up.