In October 2023, TRREB reported that housing demand in the Greater Toronto Area remained strong, but with high borrowing costs and uncertainty on the direction of interest rates, many would-be home buyers remained on the sidelines. As a result, home sales edged lower compared to the same time last year, however selling prices remained higher than last year's levels. On a year-over-year basis, the MLS® Home Price Index Composite benchmark and the average selling price were both up by 1.4 per cent and 3.5 per cent respectively.