Toronto Housing Market Update: Sales Up 1.7%, Prices Down 6.7% — The Real Story Is Listings Collapsing
The script argues that March’s GTA housing headlines are misleading: sales rose just city game 1.7% year over year, but prices fell 6.7% and new listings dropped 16.7%, keeping the market firmly in buyers’ territory. The key story is a surprising tightening on the seller side after two years of record-high supply, suggesting many owners are choosing to hold rather than sell at lower valuations, or are attempting to rent instead, as lease listings hit record highs. Despite rising immigration mortgage delinquencies and warnings that up to 150,000 borrowers may struggle refinancing, many sellers have equity and can avoid forced sales, though more supply could still appear as listings typically peak in April–June. The episode also discusses how GST/HST relief on new homes could shift demand from resale to new builds and pressure resale prices.
00:00 Sales Up Prices Down
01:21 Headlines Misread
05:02 Listings benson boone Collapse Chart
06:27 Why Sellers Hold
08:14 Renewal Wall Reality
10:30 Forced Holding Not Selling
11:54 Prices Back To 2021
13:24 GST HST Policy Shock
15:33 Inventory And Equilibrium
16:55 Key Takeaways And Outlook
