Toronto Housing Market Poised for New Opportunities This Spring

Home sales in the Greater Toronto Area declined 6.3% year-over-year in February, with average prices down 7.1% to about $1 million. New listings fell 17.7%, reducing inventory by 2.4%. Buyers are waiting for prices to stabilize, but constrained supply may increase competition and prices later. All property types saw fewer sales, with condos dropping 12%. Pent-up demand and hopes for positive trade news could boost sales in the second half of the year.