There’s been a lot of talk about Toronto’s place in the housing market lately, and as someone who’s spent years guiding clients through buying, selling, and investing here, I know how much these shifts impact your decisions. A recent global wealth manager’s survey ranked Toronto among the weakest of 23 major housing markets, noting home prices have dropped about 11% year-over-year—the largest decline of any city in the study. Not long ago, between 2014 and 2022, we saw real home prices double here, driven by strong population growth, eager investors, and plenty of new construction. Since 2022, though, higher interest rates, a foreign-buyer ban, and more available listings have led to a sharp correction, with prices now down nearly 30% from the peak.
What does this mean if you’re thinking about your next move? Toronto has shifted into a moderate bubble-risk category, with the correction helping close the gap between home prices and what local buyers can actually afford. The outlook suggests we may see further pressure on prices as inventory rises, growth slows, and the possibility of more rate hikes keeps some buyers on the sidelines. Every market presents challenges and opportunities—understanding how these trends affect your plans is key. My approach is always to provide the thoughtful, personalized guidance you need to make confident decisions, no matter what the headlines say.
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