Greater Toronto Area (GTA) resale housing market conditions tightened year-over-year in February 2026. While home sales were down compared with last February, new listings declined at an even greater annual rate, according to the newest data from the Toronto Regional Real Estate Board (TRREB). This dip aligns with recent Ipsos polling that shows fewer homeowners plan to list in 2026.

“Many would-be homebuyers are waiting for selling prices to level off before moving into the market,” said TRREB President Daniel Steinfeld. “If new listings continue to trend lower through the spring, competition between homebuyers will increase, supporting home prices and a recovery in sales.”

Last month, 3,868 homes sold, a 6.3 per cent decline year-over-year, while new listings fell 17.7 per cent to 10,705. Seasonally adjusted figures show both home sales and new listings slipped from January. The overall benchmark price fell 7.9 per cent, with buyers paying an average of $1,008,968, down 7.1 per cent from last year. The average price of a condo apartment was down 9.1 per cent ($617, 010), townhomes decreased by 8.0 per cent ($834, 172), and detached homes fell by 7.8 per cent ($1,304, 072).

“There is substantial pent-up demand in the GTA ownership market, with more than 100,000 buyers holding off on making a home purchase,” said TRREB Chief Information Officer Jason Mercer. “Buyers are waiting for selling prices to level off and for positive news on the trade front. Once we see both, there could be substantial momentum driving home sales in the second half of this year and into 2027.”