Visual Summary May 2026 Market Snapshot
Market Commentary What the Numbers Mean
The GTA resale housing market tightened further in May 2026. GTA REALTORS® reported 6,583 home sales through TRREB’s MLS® System — an increase of 6.3% compared to May 2025 — while new listings amounted to 17,698, down 18.9% year-over-year. As standing inventory continues to be absorbed, competition between buyers appears to be building in a number of neighbourhoods.
On a seasonally adjusted basis, May sales were up 10.0% month-over-month compared to April 2026, while new listings slipped 2.1% — pointing to a monthly tightening of conditions as well. The MLS® Home Price Index (HPI) Composite benchmark was down 6.7% year-over-year, and the average selling price came in at $1,069,700, a 4.6% decrease compared to May 2025. On a month-over-month seasonally adjusted basis, the average selling price edged up slightly versus April, while the HPI Composite eased only marginally.
Improved affordability — the product of lower selling prices and reduced borrowing costs — has helped drive stronger spring sales than a year ago, and TRREB expects activity to build further through the second half of the year. Buyers still held meaningful negotiating power through the spring even as inventory trended lower. TRREB has also voiced support for Bill 98, the Building Homes and Improving Transportation Infrastructure Act of 2026, which aims to make it easier, faster, and less costly to build new housing across the province.
At Landpower, our team continues to support clients across Markham, Richmond Hill, Thornhill, Vaughan, and throughout the GTA. Whether you’re ready to list, evaluating your options, or simply staying informed — we’re here to guide you through every step.