In recovery. Those are the two words the real estate boards of the Greater Vancouver (GVA) and Greater Toronto (GTA) areas are using to define their housing markets in June. A report from the Greater Vancouver Realtors (GVR), released on Friday, says, “After a turbulent first half of the year, home sales are showing emerging signs of a recovery, down ten per cent year-over-year.” Sales reached 2,181, down from the 2,418 sales in June 2024. “On a trended basis, signs are emerging that sales activity is rounding the corner after a challenging first half to the year, with the year-over-year decline in sales in June halving the decline we saw in May,” said Andrew Lis, GVR’s director of economics and data analytics.“If this momentum continues, it may not be long before sales are up year-over-year, which would mark a shift toward a market with more demand than the unusually low demand we’ve seen so far this year.” Inventory in the GVA increased 10.3% year-over-year, with 6,315 properties hanging ‘for sale’ signs in June, bringing active listings to 17,561, a year-over-year increase of 23.8%. .“As home sales regain their footing, inventory levels aren’t building as quickly as we’ve seen lately,” Lis said. “Most market segments remain in balanced market conditions, which has generally kept prices trending sideways since the start of the year. With over 17,000 listings on the market right now, and with mortgage rates down around 2% since last summer, buyers are enjoying some of the most favourable conditions seen in years.” The GVA’s benchmark price for all properties declined to $1,173,100, down 2.8% from June 2024 and a 0.3% decrease from May 2025. By housing type, there were 657 single-family homes sold, a 5.3% decrease from 694 single-family home sales in June 2024. The single-family benchmark price reached $1,994,500., a year-over-year decrease of 3.2%. Apartment sales reached 1,040, a 16.5% decrease from 1,245 sales in June 2024. The apartment benchmark price in June was $748,400, down 3.2% from June 2024 and a 1.2% decrease from May. Sales of attached homes were 473, up 3.7% from the 456 sales in June 2024. The benchmark price of a townhouse in June was $1,103,900, down 3% year-over-year and down 0.3% from May. .Greater Toronto Area “The GTA housing market continued to show signs of recovery in June. With more listings available, buyers are taking advantage of increased choice and negotiating discounts off asking prices," said Toronto Regional Real Estate (TRREB) President Elechia Barry-Sproule. "Combined with lower borrowing costs compared to a year ago, homeownership is becoming a more attainable goal for many households in 2025.” June’s GTA home sales reached 6,243, down 2.4% year-over-year, with new listings reaching 19,839, a 7.7% increase year-over-year. The average selling price, at $1,101,691 was down 5.4% compared to June 2024. Jason Mercer, TRREB’s chief information officer, said US tariffs are hanging over the market. “A firm trade deal with the United States accompanied by an end to cross-border sabre rattling would go a long way to alleviating a weakened economy and improving consumer confidence,” said Mercer. “On top of this, two additional interest rate cuts would make monthly mortgage payments more comfortable for average GTA households. This could strengthen the momentum experienced over the last few months and provide some support for selling prices.” .TRREB CEO, John DiMichele, said more than trade and economic issues can affect housing markets. “It is important to highlight that housing is not just impacted by economic and financial issues. Canadian residents, both homeowners and renters alike, are increasingly having to deal with the nightmare of violent home invasions and carjackings,” said DiMichele. “TRREB is encouraged by the recent federal announcement to table a crime bill this fall, introducing stricter bail conditions and sentencing for these disturbing crimes.” “While this is a good first step by the federal government to strengthen public safety, more is needed, such as working with provinces to increase law enforcement funding and improve capacity and efficiency in the court system.”
