Uncertainty around inflation, borrowing costs and the economy kept many Greater Toronto Area (GTA) home buyers on the sidelines in October. While monthly mortgage payments for an average priced home have edged up compared to a year ago, they are still much more affordable than required payments in 2023 and 2024.

GTA REALTORS® reported 5,603 home sales through TRREB’s MLS® System in October 2026 – down 7.9 per cent compared to October 2025. New listings entered into the MLS® System amounted to 14,173 – down by 11.9 per cent year-over-year.

On a seasonally adjusted basis, October 2026 home sales and new listings were up month-over-month compared to September 2026.

“If a Canada-U.S. trade deal is reached, GTA residents could gain a clearer picture of the economic outlook. Combined with a resolution to the conflict in the Middle East, this could help ease concerns about inflation and economic uncertainty, strengthen consumer confidence and renew interest in homeownership as we move into 2027,” said TRREB President Daniel Steinfeld.

The MLS® Home Price Index (MLS® HPI) Composite benchmark was down by 4.3 per cent year-over-year in October 2026. The average selling price, at $1,024,108 was down by 2.7 per cent. On a seasonally adjusted basis, both the MLS® HPI Composite and average selling price edged up month-over-month compared to September 2026.

“GTA homebuyers continued to benefit from substantial negotiating power on price over the past year. While borrowing costs have increased on the back of higher inflation, the impact on monthly mortgage payments has been mitigated by lower selling prices, helping keep affordability in check,” said TRREB Chief Information Officer Jason Mercer.

“While we continue to experience shorter-term volatility in the ownership housing market, we can’t lose track of the fact that the permanent population will continue to grow in our region. Policy announcements, including HST rebates and development charge reductions should help bring a greater diversity of ownership and rental supply online in the medium-term to ensure new families are properly and affordably housed,” said TRREB CEO John DiMichele.

Source: TRREB Market Watch Report for October 2026