Enzo Grisafi, Mortgage Advisor

09/03/2026

The number of homes available for sale in August 2026 was down noticeably compared to last year in the Greater Toronto Area (GTA). Following this trend, home sales also edged lower, as the number of transactions was arguably limited by less choice in some neighbourhoods. Less choice and more competition between buyers could ultimately result in renewed price growth in the months ahead.
GTA REALTORS® reported 5,057 home sales through TRREB’s MLS® System in August 2026 – down 2.1 per cent compared to August 2025. New listings entered into the MLS® System amounted to 12,075 – down by 14.1 per cent year-over-year.
On a seasonally adjusted basis, August 2026 home sales were down slightly month-over-month compared to July 2026, while new listings were up.
“If inventory tightens and home prices begin to rise, some buyers may face a trade-off between waiting for greater economic certainty and purchasing before prices move higher. At the same time, improving market conditions for sellers could bring more listings to market, providing buyers with additional choice,” said Toronto Regional Real Estate Board (TRREB) President Daniel Steinfeld.

09/01/2026

Beyond the headlines:
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08/19/2026

About 38 per cent of Canadians with a mortgage on their primary residence expect their mortgage payments to increase upon renewal, with 26 per cent anticipating a slight increase and 12 per cent predicting a significant jump, according to a Royal LePage survey conducted by WPP PLC-owned public relations company Burson, released on Wednesday.

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However, the majority of those facing a mortgage renewal (71 per cent) said they won’t be making any changes to their living arrangements, such as relocating, renting or downsizing, to afford higher payments.

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“It’s not surprising at all that (homeowners are) anxious about what’s going to happen when they have to pay normal rates when they’ve had discounted rates for so long,” said Phil Soper, president and chief executive of Royal LePage, who added this cohort of homeowners have benefited from a period of record-low mortgage rates and are now facing more typical rates.

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The Bank of Canada’s overnight rate has sat at 2.25 per cent since October, but the ongoing war in the Middle East has put upward pressure on bond yields in recent months, slightly lifting fixed mortgage rates.

08/19/2026

Asking prices are once again just that as Toronto area homebuyers take advantage of greater choice to negotiate with sellers or walk away from deals altogether.

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“The asking price has really returned to being part of a negotiation rather than an open bid in an auction,” said Cailey Heaps, president and chief executive of the Heaps Estrin Real Estate Team, who described the current market as “more rational” rather than “weak.”

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According to data from real estate listing website HouseSigma, 78.1 per cent of homes sold below their final asking price in July, while just 18.7 per cent sold above it. The median sale came in at 2.8 per cent, or $23,000 below list price. Among only those properties that sold below asking, the median discount was $30,000 or 3.7 per cent.

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It’s a far cry from February 2022, when 86.1 per cent of Toronto area homes sold above their asking price, but according to HouseSigma July’s data is actually more in line with historical trends.

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In July 2011, for example, a nearly identical 78.1 per cent of Toronto area homes sold below asking and in July 2009 the tally was 78.7 per cent.

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HouseSigma data going back to 2003 shows July 2026 ranked 11th out of 24 years for the share of homes selling below asking — essentially the middle of the pack. During every July from 2003 through 2013, between 78 per cent and 89 per cent of homes sold below asking.

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The real outliers came with the housing boom, especially during the early days of the pandemic.

08/19/2026

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08/19/2026

Canada’s inflation rate rose to three per cent in July, as renewed hostilities in the Middle East sent prices at the gas pumps back up again.

According to new Statistics Canada data, the price of gas grew more quickly in July, at 25.7 per cent on a yearly basis, compared to June, when gas prices grew at a rate of 20.5 per cent.

The blockade in the Strait of Hormuz and partial closure of shipping routes in the Red Sea were to blame for the pressure on energy prices, the data agency said. A month before, peace talks brought a brief stop to the fighting in the Middle East, which helped cool gas prices and contributed to an ease in inflation to 2.8 per cent in June.

08/06/2026

Greater Toronto Area (GTA) resale housing market conditions tightened in July 2026 compared the same month a year earlier. Home sales edged slightly lower over that period, while new listings were down substantially. This suggests that active homebuyers faced more competition from other potential purchasers. If this trend continues, average selling prices could level off in the second half of this year.
“With sales accounting for a larger share of listings, buyers may find there is less room to negotiate moving forward. If current trends continue, home prices could start to level off compared to last year. Many would-be homebuyers are waiting for confidence in the market and broader economy to improve before making a purchase. This includes more clarity on tariffs, inflation and borrowing costs.” said TRREB President Daniel Steinfeld.
“While uncertainty about the economy and borrowing costs persists, recent news has been more positive than expected. The latest readings on economic growth and jobs surprised to the upside. This could help bolster consumer confidence and prompt an uptick in home purchases in the months ahead, especially if home prices stabilize as we move through the fall,” said TRREB Chief Information Officer Jason Mercer.
GTA REALTORS® reported 5,995 home sales through TRREB’s MLS® System in July 2026 – a slight decrease of 0.9 per cent compared to July 2025. New listings entered into the MLS® System amounted to 14,484 – down by 17.8 per cent year-over-year.

07/28/2026

Call today to get started. It is never too early to review your financing.

07/15/2026

Get Repost App • CIBC The Bank of Canada holds interest rates at 2.25%! How does this impact your mortgage? 🏡

Variable rates: With no increase, your monthly payments stay the same, giving you some peace of mind. Now’s a great time to check in on your financial goals!

Fixed rates: They might not change right away. Connect with your CIBC advisor to explore mortgage options.

07/15/2026