Toronto Homebuyers Gain Opportunities as Prices Ease in July

The Greater Toronto Area's real estate market slowed in July, with home sales down 0.9% year-over-year to 5,995 and average prices falling 4.5% to about $1 million. Most housing types saw price declines except detached homes, which rose slightly. New listings dropped 17.8%, reducing supply and potentially limiting buyers' negotiating power. Sales rose 2.4% in Toronto but fell 2.7% in surrounding areas. Market balance may improve if economic confidence and financing costs stabilize.