After 10 consecutive quarters of affordability challenges in Canada, the conversation around real estate is shifting. As a broker with nearly two decades of experience guiding clients through the Greater Toronto Area, I’m seeing first-hand how changing dynamics are shaping our market. With mortgage rate relief no longer expected to ease affordability, all eyes are now on home prices and income growth as the drivers ahead. Economists predict mortgage rates will remain steady or possibly rise over the next year, so any improvement in affordability will depend even more on price moderation. Slower population growth may help cool housing demand and keep prices in check, while a strengthening labour market is poised to support household incomes. It’s important to remember that each city’s market has its own story—what buyers and sellers face in Toronto can be very different from the realities in Calgary, Edmonton, or Vancouver. Even with a stronger labour market, economists caution that true affordability gains will be limited without sustained moderation in home prices. Navigating these shifts requires experience and a deep understanding of local trends, especially across the Mississauga and Oakville areas I serve.
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