Toronto’s housing market remained stuck in neutral this fall, with no sign of a rebound as home sales and prices continued to slide.

October data from the Toronto Regional Real Estate Board (TRREB) showed home sales dropped 9.5% year-over-year to 6,138 transactions, while new listings climbed and average prices fell, leaving buyers with more options but little urgency to act.

“We’ve seen that prices are still down since the summer,” Taz Zaide, mortgage agent at 6ix Mortgage Group, told Canadian Mortgage Professional. “We’ve started doing appraisals now for properties that are coming up for closings and what we’re seeing is that the values are coming in lower than when they purchased back in June, July, even August.

Learn more