Ontario Housing Market Set for Strong Recovery by 2027

Ontario’s housing market is expected to improve in 2027 with existing home sales rising nearly 5% and prices increasing 2.4%, though sales will remain below long-term norms. Housing starts are projected to grow about 6% to nearly 65,000 units but stay over 30% below 2021-2022 levels. Higher borrowing costs limit buyer power and developer financing. Regional differences include weak condo construction in Toronto and economic pressures in Ottawa.