Toronto Affordability Gains Are Tapering | Most homes don’t sell for top dollar by accident.

Toronto’s affordability picture saw a modest improvement in Q2, with the aggregate measure dropping by about 1 point to 64% across all housing types. While this brings some relief, our city still holds one of the toughest affordability rankings among major markets. The primary driver behind this progress has been income growth, as home prices begin to show early signs of stabilization—though this was the smallest quarterly gain since Q1 2024. For buyers exploring their options, Toronto condos provided the most relief, reaching their best affordability level since 2017 and presenting a more attainable entry point for many. It’s worth noting, however, that even with this easing, Toronto’s affordability burden remains the second highest among tracked markets, and just a point away from shifting in the rankings. As someone who’s navigated hundreds of GTA transactions over the years, I continue to track these trends closely to guide clients in maximizing their opportunities, whether buying or selling in this evolving landscape.