Toronto Affordability Gains Are Tapering | Experience matters. Results follow

As someone who’s spent over two decades guiding buyers and sellers through Toronto’s ever-shifting real estate landscape, I’m always watching our city’s affordability trends closely. In Q2, Toronto’s overall affordability measure dipped by about a point to ~64% across all housing types—a modest improvement, but we’re still among the least affordable markets tracked. Most of this relief came thanks to rising incomes, with home prices showing early signs of steadying. What stands out to me: condos have reached their most favourable affordability since 2017, opening up a more attainable entry point for buyers who may have felt priced out. Still, even with this easing, Toronto ranks second worst for overall affordability, just about a point away from a shift in the standings. It’s also the smallest quarterly improvement since the recovery began in Q1 2024—though we’re still moving in the right direction faster than most markets. For those navigating these numbers, it underscores how crucial the right guidance and local expertise can be.