National housing trends

Regional housing market highlights

Ontario / Greater Toronto Region

April 2025 average selling price in the Toronto region was $1,107,463, down ~4.1% from a year earlier.

Mortgage Rate Trends

Price Forecast

August: CREA continues to project the national average home price to decline ~1.7% in 2025, to $677,368.

CMHC’s summer update suggests home prices could fall ~2% in 2025, particularly with downside pressure in Ontario and British Columbia.

Many mortgage rate forecasters expect further rate cuts through late 2025, potentially pushing policy rate toward ~2.25%.

Economic Indicators

Housing Inventory

Ex. There were 183,000 properties listed for sale on all Canadian MLS® Systems at the end of April 2025, up 14.3% from a year earlier but still below the long-term average for that time of the year.

CREA / National-Level

• CREA’s home sales in Canada saw continued strength: seasonally adjusted sales in August reached 43,276 units, up 1.1% from July.
• On an unadjusted (year-over-year) basis, August sales were higher by about 1.9% compared to August 2024
• CREA’s Home Price Index (HPI) declined ~0.1% month-over-month in August, and was down ~3.4% year-over-year.
• The national average (unadjusted) selling price rose ~1.8% year-over-year in August.
• CREA has revised its 2025 forecast downward: the latest expected total home sales for 2025 is ~469,503 units, a ~3% decline from 2024.
• The average price forecast remains a decline of ~1.7%, targeting $677,368 in 2025.

Toronto / Greater Toronto Area — TRREB

From TRREB’s August update:

• Home Sales (GTA, August 2025): 5,211 transactions, +2.3% compared to August 2024.
• New Listings (GTA, August 2025): 14,038 properties, +9.4% year-over-year.
• Average Selling Price (GTA, August 2025): $1,022,143, down ~5.2% year-over-year.
• MLS® HPI Composite Benchmark (GTA, August 2025): down ~5.2% y-o-y.
• Month-to-month trends: Seasonally adjusted prices and HPI in August were essentially flat versus July.
• Additional insights: TRREB published housing market charts for August 2025 covering affordability, price, listings, and sales trends.

Other Boards & Regions

• Toronto (City-wide): In August 2025, the average house price across the Toronto MLS® area was $1,021,505.
• CREA’s Monthly Snapshot / Stats Portal: CREA’s stats portal notes that home sales in July increased ~3.8% month-over-month (used as partial lead indicators).
• Some provincial or board-level August statistics (e.g. from OREB, Alberta, Nova Scotia) were not yet published or publicly available as of the time of search.