06:59 AM EDT, 05/07/2025 (MT Newswires) -- Toronto home prices have sagged amid elevated

resale supply, and the spring market is shaping up to

be more of the same, said Bank of Montreal (BMO).

The benchmark Toronto price was down 5.4% from a year ago in April, which implies that prices continued to contract at a roughly 15% annualized clip on a month-over-month basis -- that's similar to the performance seen in the prior few months, noted the bank.

Sales were down 23% from a year ago, while new listings were up 8% and active listings are sitting 54% higher. That leaves the seasonally-adjusted sales-to-new listings ratio below 40%, or in buyers' market territory, stated BMO.

A lot of this reflects a very "soggy" small condo market,

but prices are slipping across all segments, pointed out BMO. The path back to the 2022 highs will continue to be

measured in years.