Outlook predicts modest price growth for GTA home sales

Gradual increases in the average selling price of homes in the Greater Toronto Area (GTA) are anticipated in 2025, reaching $1,147,000, a 2.6% rise from 2024. Growth is expected primarily in the single-family market. Lower borrowing costs may boost transactions, though trade disruptions could dampen consumer confidence. A recent poll indicates 28% of respondents plan to buy a home this year, with 42% being first-time buyers. TRREB emphasizes the need for diverse housing options and the development of missing-middle housing to ensure accessibility.