The Greater Toronto Area housing market saw improved affordability in May 2025, with home sales down 13.3% and new listings up 14% year-over-year. Average prices fell 4%, and borrowing costs are lower, but economic uncertainty limits sales growth. Month-over-month sales and prices rose slightly. Calls for government action include reducing housing taxes, embracing new construction methods, and cutting interest rates to boost affordability and homebuilding.
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