August 2026
Dear Friend,
Toronto real estate board members reported 5,995 home sales in July, a similar amount to July 2025. The number of new listings, though, was significantly less than a year ago, down 17.8%. There are 26,098 homes available for sale, and with approximately 6,000 sales per month, it means that the average buyer only has a choice of 4 homes. This tightening of homes for sale is the first step in prices starting to recover.
Other steps include more confidence in the market and the broader economy, including more clarity on tariffs, inflation and borrowing costs. Recent news has been more positive than expected. The latest great readings on economic growth and jobs surprised many people, and this should help bolster consumer confidence and prompt an uptick in home purchases in the months ahead.
All in all, I am confident in the market and believe that we are well on our way towards increasing numbers of sales and prices starting their road to recovery. Prices of land and construction continue to increase, and our population will continue to grow. Those factors mean that prices will always increase. It’s not a question of if, it’s a question of when!
While some people are not ready to “jump” into the market, now is a really great time to get the lay of the land, check out areas and get qualified for financing (if rates jump, it’s too late to get the lower rate. But by getting pre-qualified, you can lock in a rate for 4 months, with no commitment to buy).
If you are considering buying, or have a friend who is, give me a call, let’s get together and let me put my experience and expertise to work for you.
Have a great August,
Your Friend in Real Estate.
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