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Home sales in the Greater Toronto Area decreased by nine percent in September compared to the same month last year, with total sales of 5,040 units. The average selling price dropped from $1,060,036 to $1,006,409, and the composite benchmark price fell by 4.7 per cent year-over-year. Uncertainty about economic conditions, inflation, and borrowing costs has led potential buyers to hesitate in making purchases.
Written locally by qwen2.5:14b on 2026-10-06,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
Home sales in the Greater Toronto Area dropped by nine percent year-over-year to 5,040 units in September, according to the Toronto Regional Real Estate Board. The average selling price also decreased from $1,060,036 a year ago to $1,006,409. These declines are attributed to economic uncertainties, including inflation and higher borrowing costs, as well as geopolitical tensions with the United States and rising gas prices due to conflicts in the Middle East. The composite benchmark price fell by 4.7 percent compared to September of last year. This downturn comes ahead of an important municipal election on October 26, where housing policy will be a key issue for voters across the GTA and Simcoe County. Daniel Steinfeld, TRREB president, noted that the upcoming election would shape housing policies for the next four years.
Written for “Canadian Real Estate Slump” on 2026-10-06,
grounded in this article and the 0 other(s) covering the same event.
Home sales in the Greater Toronto Area were down in September from a year ago, while average prices continued to decline.
asserted
prices → continue → September
The Toronto Regional Real Estate Board said on Tuesday sales totalled 5,040 in September, down nine per cent year-over-year.
asserted
sales → say → year
The result came as the average selling price for the month was $1,006,409, down from $1,060,036 a year earlier.
asserted
price → come → 1,060,036
The composite benchmark price, meant to represent the typical home, was down 4.7 per cent year-over-year in September.
asserted
price → mean → September
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The board says homebuyers were in a holding pattern in September, as uncertainty surrounding the economy, inflation and borrowing costs weighed on sales.
asserted
uncertainty → get → sales
Renewed tensions with the United States and a surge in gas prices amid an ongoing war in the Middle East have kept potential buyers on the sidelines in recent months.
Slowing home sales come as municipalities across Ontario, including the GTA, hold a ballot on Oct. 26.
“Housing is one of the biggest issues on voters’ minds, and the upcoming municipal election will help shape housing policy across the GTA and Simcoe County for the next four years,” said Daniel Steinfeld, TRREB president, in a statement.
asserted
Steinfeld → keep → statement
“The decisions our next mayors and councillors make on affordability, housing supply and the costs associated with buying a home can also influence buyer demand and confidence in the market.”
New listings in September totalled 16,500, down 14.4 per cent year-over-year.
asserted
listings → make → year
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