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Greater Toronto Area home sales fell for a fifth month, with February marking the lowest sales since April. Seasonally adjusted sales dropped 4.9% to 4,479 units, while the home price index declined 1% month-on-month to 932,000 CAD (682,134 USD), continuing a nine-month slide. The slowdown is attributed to buyers waiting amid U.S.-led trade tensions and ongoing tariff negotiations. Year-over-year, sales dropped 6.3%, prices fell 7.9%, and new listings declined 17.7%, reflecting caution among buyers and a wait-and-watch approach in the GTA housing market.
Home sales in the Greater Toronto Area (GTA) continued their downward trend for the fifth consecutive month in February, with prices also showing a decline. Analysts say the ongoing U.S.-led trade war has caused many prospective buyers to pause, contributing to the slowdown. Advertisement
Seasonally adjusted figures revealed that sales fell by 4.9% from January, reaching 4,479 units, marking the lowest level since April. The home price index, after seasonal adjustments, decreased by 1% month-on-month to 932,000 CAD (682,134 USD), marking the ninth consecutive month of price drops. The GTA includes Toronto and its four neighboring regional municipalities.
Industry experts observed that buyers are holding off in anticipation of more stable pricing and hopeful developments on the trade front. Canada has been negotiating with the U.S. to remove tariffs on key sectors, which could influence buyer confidence.
Looking at year-over-year data, the home price index fell by 7.9% in February, while overall sales dropped 6.3%, and new property listings declined 17.7%. This combination of lower sales, falling prices, and fewer new listings highlights the cautious sentiment prevailing in the Toronto housing market.
Source Reuters
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