TORONTO, Jan 7 (Reuters) - Greater Toronto Area home sales fell for a third straight month in December and prices declined as economic uncertainty kept homebuyers on the sidelines, Toronto Regional Real Estate Board data showed on Wednesday.
Seasonally adjusted sales dipped 0.4% last month from November to 5,624 units, after declines in October and November. It marked the lowest level for sales since June.
The board's home price index was down 0.7% month-over-month, after seasonal adjustment, at C$962,300 ($697,066).
For 2025, sales declined 11.2% compared to 2024, new listings were up 10.1% and the average selling price dropped 4.7%.
The Greater Toronto Area includes Toronto, Canada's most populous city, and four surrounding regional municipalities.
“The GTA housing market became more affordable in 2025 as selling prices and mortgage rates trended lower," the board's president, Daniel Steinfeld, said in a statement.
"Improved affordability has set the market up for recovery. Once households are convinced that the economy and labour market are on a solid footing, sales will increase as pent-up demand is satisfied.”
The Bank of Canada has cut its benchmark interest rate to a three-year low of 2.25% to support the economy, which has been badly hurt by the U.S.-led trade war.
On a year-over-year basis, the price index fell 6.3% in December, while sales were down 8.9% and new listings rose 1.8%.
($1 = 1.3805 Canadian dollars)
Reporting by Fergal Smith; Editing by Lincoln Feast.
Source: Reuters