May 2026 Market Update 

The GTA resale housing market continued to tighten through May as we moved deeper into the spring season, with conditions shifting in a more balanced direction compared to last year. Sales were up year-over-year, while new listings were down, which has gradually reduced available inventory across many areas. As that supply has been absorbed, we’re seeing pockets of increased competition, even though pricing overall remains slightly below last year’s levels and continues to show early signs of stabilizing.

What stands out this spring is the combination of stronger buyer activity and fewer new listings coming to market. That balance is starting to support more stability in pricing, particularly in well-positioned neighbourhoods and properly priced homes. While buyers still hold negotiating power in many segments, that window tends to shift as inventory tightens, especially heading into the second half of the year.

Overall, spring activity has been stronger than last year, helped by improved affordability and lower borrowing costs compared to previous peaks. If current trends continue, we’re likely looking at a market that continues to level off, with the potential for gradual price growth as we move forward.

If you’re thinking about a move, it’s worth understanding how these broader trends are playing out in your specific area and property type, as local conditions can vary quite a bit from the overall averages.

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