Toronto Housing Market: New Opportunities Amid Recent Shifts

Toronto and Vancouver housing markets saw inflation-adjusted home prices drop about 10% over the past year, the steepest declines among 23 global cities tracked. Both cities are in the moderate bubble-risk band, with prices now well below previous peaks. Despite lower prices, owning costs remain high compared to renting. Nationally, home prices fell to their lowest since 2023. A federal foreign-buyer ban expires in 2027, potentially affecting demand. However, housing supply is critically low, especially in Toronto, risking future market tightening.