Home sales in the Greater Toronto Area rose 7% year-over-year in April 2026, while new listings fell 9.3%, tightening market conditions. Despite this, average home prices dropped 4.9% to about $1.05 million, with buyers benefiting from more negotiating power. Seasonally adjusted data showed sales increasing faster than listings, indicating growing competition. Efforts to reduce municipal barriers aim to boost housing supply and affordability.