Greater Toronto real estate buyers are returning, but the market has a long way to go. Toronto Regional Real Estate Board (TRREB) data shows that both sales and home prices climbed in November. The positive market news is overshadowed by the unusually lofty levels of inventory that continue to rise. Rising prices demonstrates FOMO is returning since buying still hasn’t recovered to normal monthly levels—even before adjusting for population. However, sellers appeared in volumes rivaling some of the record’s busiest spring markets.

Greater Toronto real estate prices made a minor but potentially significant uptick. The benchmark, or typical, home price climbed 0.1% (+$1,400) to $1,061,700 in November. That’s 1.8% (-$19,600) lower than the same month a year prior. Monthly progress seemed relatively minor, but it was the first growth observed in over half a year.