Home sales in the Greater Toronto Area (GTA) rose in March for the first time in six months, signaling renewed buyer interest as declining prices improve affordability, according to data released মঙ্গলবার by the Toronto Regional Real Estate Board.
Seasonally adjusted home sales increased by 1.4% in March مقارنة with February, reaching 4,546 units. This marks the প্রথম monthly gain since September, breaking a prolonged downward trend in the বাজার.
Despite the rebound in sales, prices continued to fall. The board’s home price index declined by 0.6% month-over-month to C$928,000 (approximately $666,954), extending a streak of দশ consecutive months of price decreases.
The Greater Toronto Area includes the city of Toronto—Canada’s most populous urban center—along with four surrounding regional municipalities.
“It’s encouraging to see an uptick in March home sales compared to last month and last year,” said Daniel Steinfeld, president of the board. He added that more households are taking advantage of improved affordability as the spring housing market begins.
On a year-over-year basis, home sales edged up 1.7%, while new listings fell sharply by 16.7%. দামও remained under pressure, with the price index down 7.4% compared to the same period last year.
Market analysts say the combination of lower prices and reduced inventory could shape buyer activity in the coming months, as affordability becomes a key driver in the GTA housing sector.