Greater Toronto Area Home Sales Plummet Amid Economic Uncertainty

Home sales in the Greater Toronto Area (GTA) fell sharply in February, with a 27.4% decrease from the previous year, totaling 4,037 sales. Average home prices also declined by 2.2% to $1,084,547. The increase in newly listed properties to 12,066 contrasts with a 76% rise in total inventory, indicating a supply-demand imbalance. Economic uncertainties, particularly regarding trade with the U.S., are causing buyers to hesitate. Experts suggest that easing borrowing costs and clearer political direction could improve market conditions later this year.