"Average selling prices and borrowing costs remain lower than last year's levels. However, despite some month-over-month momentum, many would-be homebuyers remained on the sidelines due to economic uncertainty," TRREB writes. But, amid a recession and cost of living crisis, it is understandable how an average price tag of $1,101,691 is still too much for many to swallow. This means the region now has the most active residential real estate listings ever on record. On top of this, two additional interest rate cuts would make monthly mortgage payments more comfortable for average GTA households and provide some support for selling prices," the report reads.