There’s been a notable shift in Toronto’s real estate landscape this past quarter: affordability made real strides, not because of better financing, but thanks to softer home prices. In late Q2 2026, we saw a nearly 2.5-point improvement in affordability, as Toronto’s typical home price dropped around 4%—bringing the payment-to-income ratio down to about 68%. This change was especially clear in our city, where price adjustments, rather than mortgage rates, opened up better buying opportunities. For those considering a move, it’s worth noting that mortgage rates aren’t expected to offer much more relief in the coming year, so it’s increasingly important to focus on other ways to support affordability—like steady income growth and keeping price increases in check. With my commitment to local expertise and a client-focused approach, I’m here to help you navigate these evolving conditions for a smoother real estate journey.
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