The Greater Toronto Area saw a 6.3% increase in home sales compared to last year, with 6,583 homes sold in May and a 10% rise from April. The average selling price dropped 4.6% year-over-year to $1,069,700, and the benchmark price fell 6.7%. New listings decreased 18.9%, and total active listings fell 13.3%, tightening the market. Buyers currently have strong negotiating power.