Home sales in the Greater Toronto Area rose 7% year-over-year in April 2026, while new listings dropped 9.3%, tightening market conditions. Despite this, average home prices fell 4.9% compared to last year, with buyers benefiting from more negotiating power. Seasonally adjusted data showed monthly sales increased more than new listings, indicating rising competition. A new housing policy report calls for reducing municipal barriers to boost supply and affordability.