Greater Toronto home sales drop in March amid trade concerns

Home sales in the Greater Toronto Area dropped 23.1% in March, with 5,011 homes sold compared to 6,519 in March 2024. New listings increased by 28.6% to 17,263. Economic uncertainty and a federal election are causing potential buyers to adopt a "wait-and-see" approach. The average selling price fell 2.5% to $1,093,254, with all property types experiencing declines. Detached homes saw a 24.9% drop in sales, while condos and townhouses also faced significant decreases.