Home sales, new listings, and average prices all declined year-over-year, showing that many buyers are still sitting on the sidelines and waiting for clearer economic signals.
But behind the slowdown, there are early signs of a 2026 rebound, according to industry leaders.
GTA Home Sales Fall 15.8% — Buyers Still Waiting for Stability
GTA REALTORS® recorded 5,010 home sales in November 2025, down 15.8% from November 2024.
New listings also fell to 11,134, a 4% year-over-year decline, signaling fewer sellers entering the market.
Seasonally adjusted, sales dipped slightly from October and listings edged down as well — reinforcing that both buyers and sellers remain cautious.
Why?
Most buyers are still waiting for:
Steadier economic signals
More certainty around employment
Clearer direction on borrowing costs
Confidence that prices have stabilized
TRREB President Elechia Barry-Sproule notes that many households want to take advantage of today’s lower prices and softer conditions — but they need long-term job confidence first.
Prices Down 5.8% Year-Over-Year — A Window of Opportunity for Equity-Based Borrowers
The MLS® Home Price Index Composite dropped 5.8% annually.
The average selling price fell 6.4%, landing at $1,039,458.
Month-over-month? Prices were roughly flat — suggesting the market may be finding its bottom.
For many homeowners and investors, this creates a unique opportunity:
Access home equity while values remain stable
Refinance before renewal costs rise
Use a second mortgage or HELOC alternative to consolidate debt
Purchase undervalued investment properties
At Lendworth, we’re already seeing increased demand from clients using equity-based solutions to position themselves for the expected 2026 rebound.
Economy Showing Strength — A Key Driver for the 2026 Outlook
TRREB’s Chief Information Officer Jason Mercer highlighted stronger-than-expected November economic results:
Better job numbers
Faster economic growth
Signs Canada is weathering global trade pressures
Major new infrastructure projects adding confidence
If momentum continues, buyer sentiment could shift faster than expected — especially heading into the spring 2026 market.
Inventory Healthy… For Now. Construction Needed to Avoid a Shortage
TRREB CEO John DiMichele emphasized that today’s buyers are benefitting from a well-supplied market.
But there’s a warning:
As inventory is absorbed, we will need new construction to refill the pipeline.
Ontario urgently needs more mid-range housing — options between condos and full single-family homes — to support first-time buyers and growing families.
All levels of government are being encouraged to introduce new incentives to keep housing supply moving.
What This Means for 2026: Lendworth’s Take
Based on November’s data and broader economic trends, here’s what we expect:
1. A tighter resale market by mid-2026
Current inventory won’t last if demand picks up.
2. Prices could stabilize, then rise modestly
Flat monthly prices suggest the bottom is near.
3. Increased demand for equity-based lending
Borrowers will look for:
Second mortgages
HELOC alternatives
Bridge loans
Refinance solutions
…to stay competitive when the market turns.
4. Investors preparing early
Savvy investors are positioning now while prices sit 5–7% lower than last year.
Final Word
The GTA housing market is cooling today — but the underlying economic signals suggest 2026 could mark the beginning of a turnaround.
If you're considering:
Accessing home equity
Consolidating debt
Refinancing
Preparing for a purchase in 2026
Lendworth can help you move early and stay ahead of the curve.