Real Estate Market May 2026

09 Jun Real Estate Market May 2026

Your May 2026 real estate market update is here! Covering Toronto, Oakville, Burlington, Hamilton and the surrounding areas.

Highlights of the real estate market from TREBB and Cornerstone

From TRREB:

The GTA resale housing market tightened in May 2026 compared to last year. Sales increased year-over-year, whereas new listings declined over the same period. As standing inventory has been absorbed, competition between buyers has likely increased in some neighbourhoods. This should see the price trend flatten and ultimately trend upwards in the months ahead.

“Spring sales have been stronger than last year, reflecting improved affordability stemming from lower selling prices and borrowing costs. Sales are forecast to improve further as we move through the second half of this year. Recovery would be further bolstered by positive news on the trade front along with an easing of geopolitical tensions and related uncertainty,” said TRREB President Daniel Steinfeld.

“Inventory levels trended lower over the past year, but buyers continued to have substantial negotiating power through the spring, helping with affordability. Looking ahead, if sales strengthen further relative to listings, selling prices will level off and even start to grow as we move into 2027,” said TRREB Chief Information Officer Jason Mercer.

GTA REALTORS® reported 6,583 home sales through TRREB’s MLS® System in May 2026 – an increase of 6.3% compared to May 2025. New listings entered into the MLS® System amounted to 17,698 – down by 18.9% year-over-year.

On a seasonally adjusted basis, May 2026 home sales were up by 10% month-over-month compared to April 2026 and new listings were down by 2.1% – pointing to a monthly tightening of market conditions as well.

The MLS® Home Price Index (MLS® HPI) Composite benchmark was down by 6.7% year-over-year in May 2026. The average selling price, at $1,069,700, was down by 4.6% compared to May 2025.

On a month-over-month seasonally adjusted basis the average selling price was up slightly compared to April 2026 and the MLS® HPI Composite edged slightly lower.

Over in Hamilton/Burlington:

Hamilton-Burlington-Haldimand-Niagara North May 2026 Statistics
“While this May ranks among the slowest we have seen for sales activity, it is important to look at the fuller picture. Since the start of the year, we have seen consistent month-over-month gains in sales activity, and the 6.5% increase in May continues that positive trajectory,” says Bill Duce, CEO of Cornerstone. “The market is rebuilding its momentum steadily, even if we are not yet back to the levels we have seen in previous spring markets. For buyers and sellers who have been waiting on the sidelines, working with a local REALTOR® is important to understand the local market dynamics and trends to consider heading into the summer months.”

Hamilton-Burlington-Haldimand-Niagara North Area Highlights:

Home sales increased 6.5% month-over-month.
The number of newly listed properties decreased by 3.5% on a month-over-month basis.
The MLS® Home Price Index (HPI) was $744,000 in May 2026, an increase of 0.8% compared to a month ago, and down 5.4% on a year-over-year basis.
Inventory across the market area decreased by 9.4% on a year-over-year basis, but due to an increase on a month-over-month basis, the months’ supply increased to 4.8 months for all property types by the end of May.

Questions about buying or selling? Reach out anytime, I’d be happy to discuss the market with you!

All the latest home prices and statistics by property type and city below!

Sources for Real Estate Market Update for May 2026: Toronto Regional Real Estate Board and Cornerstone Association of REALTORS®