Home sales in the Greater Toronto Area (GTA) rose in September 2025, with 5,592 transactions reported — an 8.5% increase from a year earlier — as more buyers entered the market following the Bank of Canada’s interest rate cut, which lowered borrowing costs and made monthly mortgage payments more affordable. On a seasonally adjusted basis, sales also increased from August while new listings declined, indicating slightly tighter conditions in some market segments.

The weakening condo market in the Toronto region has some parallels to the crash of the early 1990s, but several factors mean the current downturn will likely be less severe, Canada’s housing agency said in a report out Wednesday.

Don't expect a big immediate jump in purchase activity, but experts suggest there's cause for cautious optimism