Toronto Home Prices See 3.7% Annual Decline
AI-generated image · Bay Street Wire
New data from Royal LePage and the Canadian Real Estate Association indicate a downward trend in city housing costs.
Home prices in Toronto have decreased by 3.7% compared to the same period last year, according to reporting from CBC Toronto. This local dip mirrors a broader national trend of declining home prices identified in reports from Royal LePage and the Canadian Real Estate Association (CREA).
While prices are trending downward, the broader market remains volatile. CBC Toronto notes that the Canadian Real Estate Association has once again revised its 2026 home sales forecast downward, following a 7.7% drop in September transactions compared to the previous year.
Beyond home sales, other housing metrics show shifts in affordability. Reports cited by CBC Toronto indicate that Toronto rent prices have fallen to their lowest September levels seen in five years. Additionally, the Toronto Board of Trade has called upon the provincial government to implement reforms to housing regulations.