Homebuyers stick to the sidelines as sales drop 8 per cent in October

Toronto Star · Anastasia Blosser · 2026-11-04 10:00 UTC

Economic uncertainty and borrowing costs are keeping buyers from entering the market, says Toronto's real estate board.

Toronto-area average home sales were down eight per cent in October, while both prices and sales fell across all major housing types as economic uncertainty continued to keep buyers on the sidelines.

The Toronto Regional Real Estate Board (TRREB) attributed the year-over-year declines to homebuyers holding off amid uncertainty around inflation, borrowing costs and the economy, according to its monthly report released Wednesday.

“There are a lot of homebuyers that would like to take advantage of improved affordability, yet at the same time are concerned about their economic prospects moving forward, like the cost of living and their job situation,” said TRREB chief information officer Jason Mercer.

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