Category: Latest Posts

Falling mortgage rates are improving affordability and encouraging more Canadians to resume postponed home-buying plans.
Household formation remains resilient despite slower national population growth this year.
More first-time buyers are expected to support activity across the broader resale market.
Market confidence is forecast to improve gradually through late 2026.

Canadian borrowers could continue facing affordability pressure as borrowing costs remain elevated and economic uncertainty shapes the housing market.
Rate relief could improve affordability, but its impact will depend on inflation, economic conditions, and the Bank of Canada’s policy path.
Buyers may remain cautious, while higher financing costs continue influencing purchasing power, refinancing decisions, and overall housing demand.
For borrowers and investors, planning around current financing conditions remains important rather than relying entirely on future rate declines.

By Q2 2026, avg. days on market had increased yearly across home types in Southern Ontario, marking a slower pace than the 2022 peak.
Condos took longest to sell in Q2 2026, averaging 36 days versus ~32 in Q2 2025, while elevated inventory gave buyers more negotiating room.
Single-family homes moved faster than condos: semi-detached averaged 20 days, detached 25, and townhouses ~24, with townhouses showing the smallest yearly increase.
An economist said townhouses appeared more resilient because they appealed to downsizers and first-time buyers seeking an option between detached homes and condos.
The contrast was sharp: at the Early-Q1 2022 peak, detached homes sold in nine days, while semi-detached homes and townhouses took ~1 week.

A global wealth manager ranked Toronto among the weakest major housing markets, with home prices ↓~11% yearly, the steepest annual drop across 23 tracked cities.
The firm said Toronto led from 2014 to 2022, with real home prices doubling during rapid population growth, strong investor demand and robust construction.
Since 2022, higher interest rates, a foreign-buyer ban and added supply had driven a sharp correction, leaving Toronto prices nearly ↓30% from peak.
Toronto landed in the report's moderate bubble-risk category because the correction had already narrowed the gap between home prices and what residents could afford.
The outlook then pointed to continued near-term price pressure in Toronto as inventory rose, growth slowed and possible rate hikes kept buyers cautious.

Before closing, Ontario buyers need cash for deposit, land transfer tax, legal fees, and adjustments, not just mortgage payments and the down payment.
Ontario’s minimum down payment rises as a home’s price climbs, and smaller down payments can trigger mortgage insurance added into monthly payments.
Ontario buyers need land transfer tax paid in full at closing, and the deposit is only an upfront portion of the total down payment.
Ontario requires a Real Estate lawyer, often budgeted near ~$2K, and buyers should also expect closing adjustments for prepaid taxes, condo fees, or fuel.
Eligible first-time buyers may access provincial rebates, including a full HST rebate on new homes through Late-Q1 2027, and pre-approval can prevent financing surprises.

Toronto’s aggregate affordability measure improved in Q2, dropping ~1 point to ~64% across housing types, though it still ranked among the least affordable tracked markets.
Income growth drove most of Toronto’s relief, while home prices showed early signs of stabilizing, making this the smallest quarterly improvement since Q1 2024.
Toronto condos offered the most relief, reaching their most favourable affordability level since 2017 and giving buyers a comparatively more reachable entry point.
Even after recent easing, Toronto’s overall affordability burden remained the second worst among tracked markets, sitting within ~1 point of a potential ranking shift.
This was Toronto’s smallest quarterly affordability improvement since the recovery began in Q1 2024, even though the city continued improving faster than most markets.

Toronto co-op housing regained momentum after decades of limited building. A local housing federation's pipeline included >1.9K homes, signaling stronger long-term affordability efforts.
Supporters said Toronto co-ops can pair long-term affordability with resident voice, offering community control and shared responsibility alongside housing that stays stable over time.
A recent Toronto expansion added 24 homes and drew >6K lottery applications, underscoring demand for housing near transit, schools, childcare, jobs, and services.
Toronto co-ops were described as mixed-income communities, not only social housing. Examples in St. Lawrence and the Beaches combined co-op, market, supportive, and condominium homes.
Toronto's next co-ops need to be affordable, accessible, energy-efficient, and flexible, while keeping democratic governance realistic for residents balancing work, school, and caregiving.