Toronto Home Sales Rebound in January as Lower Mortgage Rates Drive Activity

The Toronto Regional Real Estate Board forecasts a 12.4% rise in 2025 sales despite potential economic uncertainty tied to U.S. tariff threats.

January home sales in the Greater Toronto Area rose 10% month-over-month to 5,971 units, driven by lower borrowing costs following six Bank of Canada rate cuts since June 2024.
New listings surged 26% from December and 48.6% year-over-year, reflecting increased seller activity in the market.
The average home price in January was $1,089,300, largely stable from the prior month, with TRREB projecting a 2.6% price increase for 2025.
TRREB predicts 2025 will see 76,000 properties sold, a 12.4% increase from 2024, as affordability improves for buyers sidelined by previously high mortgage rates.
Economic uncertainty from potential U.S. tariffs on Canadian goods could dampen consumer confidence and temporarily slow market momentum.