What’s Up with the Housing Market: Are Buyers on Strike?
If you blinked you would have missed it. The housing market was on fire in February with houses on the mls (multiple listing service) seeing record price increases.
Home buyers were lined up down the street to get a showing. Open houses were bursting at the seams. It was not uncommon to receive 30 offers on a house and have it sell for thousands of dollars above the asking price.
There simply was not enough housing supply to keep up with the buyer demand. This led to an unprecedented market. It was a terrible situation for buyers to try and buy a home and absolute calamity for most home sellers, unless you moved to a hotel—which some sellers did. A crazy environment for buyers and sellers.
Today it’s the polar opposite. Selling your home is no longer quick. Some home sellers are begging for an offer. Others struggle to even get showings.
Home equity is dwindling compared to purchase prices of February. It is literally the opposite of February’s market. Certain sellers are panicking because they bought a house banking on the proceeds from their sale.
So, what’s in store for the market? I’ll liken it to a Saturday afternoon cruise down Highway 401. Your speedometer says 160 km/h. You’re driving a Lamborghini and there are no speed traps in sight.
Then, off in the distance, there are red lights. Traffic is building and, all of a sudden, you’re forced to reduce your speed because you’ve come upon a traffic jam.
The traffic jam represents buyer fatigue, astronomical seller price expectations and rising interest rates. Like a traffic jam, these factors cause the market to slow down.
The Central Bank of Canada made it clear they would raise interest rates in the short term affecting monthly mortgage payments (monthly payments) on fixed rate mortgages and variable rate mortgage payments. A recent update by Connolly Capital Mortgage Solutions, a leading Canadian mortgage brokerage, shows Canada’s 5-year government bond has been volatile as of late, but has consistently remained under 3% for the last three months.
Investors and banks are pricing for inflation risk, so they are continuing to raise fixed rates. Conventional fixed rates are well over 4.50% now and alternative lending deals are over 5.00%.
Why does this all matter? It matters because it affects interest rates and iterate rates affect a buyer’s ability to borrow money. The higher the interest rate the higher the cost to borrow. Other factors like the consumer price index (CPI) and inflation (rising costs of goods and services) will affect a buyer’s ability to get a mortgage loan.
The consensus appears to indicate another 0.50% hike to the Bank of Canada’s Prime Lending Rate. This would bring the Prime to 3.70%. Ultimately, the Bank of Canada is slowing growth by raising rates, which is affecting purchase prices amongst housing and other goods and services. Home buyers will continue to shop banks and alternative lenders for the lowest rate.
Most home buyers will ultimately have to decide whether to go with a fixed rate mortgage or a variable rate mortgage. It’s recommended to speak to a mortgage broker (or mortgage brokerage) or your financial institution and build a plan based on potential annual percentage rate (APR) increases or decreases. They may have to increase the amortization period to bring down monthly payments.
They can help determine monthly mortgage payments based on a home’s equity. This can help save you thousands of dollars just by strategizing. It’s also beneficial to know what your regular payments will be.
So, what’s in store for the remainder of the year? Where did all the pent-up demand from buyers go that was so abundant in the first quarter? Don’t be surprised if the market does normalize.
Buyers will be used to higher interest rates. Sellers’ expectations will have adjusted and people need homes for growing families, downsizing, readjusting capital, investment and for many other reasons. Don’t be surprised if the market picks up steam towards the end of the year—albeit, perhaps, not at the rate we saw in February.
Immigration continues to be a big factor when it comes to forecasting the housing market. With north of 400,000 immigrants coming to the country a year, this creates demand. And demand affects housing prices. The real estate market is driven by supply and demand. Mortgage rates will affect rising house prices in the interim with mortgage payments increasing. Real estate agents know all to well that dips in the market do happen. Inflation prices across the board are being curbed by the bank of Canada to slow prices. Especially for Toronto house prices, one could argue we need a break pedal.
Mississauga real estate prices have dropped on a detached home for the first time in a long time but there continues to be demand. The same goes for Oakville housing prices, Burlington and Hamilton Housing prices. With new immigrants wanting to live in the GTA, it’ll be interesting to see where there tipping point of supply and demand plays out.
Tertiary markets like London continue to be a hot bed for investors and young families looking for more affordable housing. London home prices have dropped marginally but continue to do well because of higher demand.
The Burlington housing market should be quick to rebound given its proximity to the city of Toronto and family favorable neighbourhoods.
Andrea Kuronen
Sales Representative - Associate
Andrea has a personal connection to the community that goes beyond the streets and its landmarks. Raised in South Oakville, she knows the heartbeat of this town, from its reputable school districts and community resources to the stunning parks that surround us. Armed with a Schulich MBA, specializing in Marketing, her career has focused on building relationships and scaling businesses. In real estate, her approach is straightforward: build trust and equip her clients with the facts to make informed decisions.
Real estate is more than a profession to her; it’s a way to connect with the community and help people reach their personal and financial goals. An active contributor to the community, Andrea serves on the Board of the West River Residence Association and seeks opportunities to support local entrepreneurs. In her spare time, you’ll find her playing with her two children at a local park, sailing with her father at Oakville Yacht Squadron or indulging at one of the many ice cream spots in her neighbourhood.
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Rate Cut Ignites GTA Real Estate
Market Snapshot
The Toronto Regional Real Estate Board (TRREB) September 2025 Market Watch report shows early signs of a GTA rebound.
- 5,592 sales, up 8.5% YoY
- 19,260 new listings, +4% YoY
- Average price ≈ $1,059,377, down 4.7% YoY
- MLS® HPI ↓ 5.5% YoY
- Sales up MoM, listings down MoM → tighter market forming
These numbers point to a slow but steady market recovery. But what’s really fueling the conversation now is the Bank of Canada’s latest decision.
Bank of Canada’s October 2025 Interest Rate Decision
On October 29 2025, the Bank of Canada cut its policy rate by 25 basis points to 2.25% — the second consecutive cut and the lowest level since 2022.
The Bank signaled that this may mark the end of its easing cycle unless inflation weakens further.
Why it matters:
- Borrowing costs drop, boosting affordability for buyers.
- Confidence returns to sellers and investors after months of hesitation.
- Refinancing and investment opportunities reopen for savvy property owners.
In short, this move has re-energized housing markets across Toronto, Mississauga, Oakville, Burlington, and even Muskoka, where buyers and investors had been waiting for the right signal.
What Buyers Should Do Now
- Act strategically: With rates lower and listings up, this is a golden moment to negotiate.
- Get pre-approved quickly — competition could ramp up by early 2026.
- Focus on quality locations like south Oakville, Lorne Park (Mississauga), and core Burlington — where long-term equity growth outperforms.
- For investors: Explore Muskoka vacation homes or rental-ready units before rising demand drives prices back up.
What Sellers Should Know
- Sales are rising despite lower average prices — buyers are re-entering the market.
- Presentation and pricing are everything. Professional staging, premium photography, and data-backed pricing attract serious offers.
- Upsizing or downsizing? With lower mortgage costs, you can move equity efficiently while conditions remain favourable.
- Luxury sellers: Demand for turnkey listings is picking up again — especially in Oakville and Mississauga.
Local Insights
Mississauga & Oakville: Still among the GTA’s most resilient sub-markets. Expect balanced conditions through Q4 2025.
Burlington: Family buyers are back — affordability plus lifestyle make it a top performer.
Toronto: Core condos are stabilizing; investors are returning to well-located downtown units.
Muskoka: Cottage and short-term rental demand remains strong — ideal for diversification and passive-income seekers.
Investor Takeaway
With the policy rate at 2.25% and inflation under control, investment real estate looks compelling again. Expect:
- Better cash-flow margins with cheaper financing
- Gradual price stabilization through 2026
- Long-term upside as population growth and housing supply constraints persist
What To Do Next
- Buyers: Review your mortgage options now — lenders are updating rates.
- Sellers: Get a current market evaluation to plan your listing window.
- Investors: Compare cap rates and projected yields across GTA vs Muskoka.
Need a strategy tailored to your goals? Let’s make your next move your smartest yet.
About Regan Irish & Associates
We specialize in luxury homes, resale properties, and investment real estate across the GTA and Muskoka. Our team’s market insight and negotiation expertise deliver results — whether you’re upsizing, downsizing, or investing.
1320 Cornwall Rd Unit 103, Oakville ON L6J 7W5
905-842-7677
reganirish.com
Call to Action
The market has shifted — don’t wait for the crowd.
Contact Regan Irish & Associates today for a personalized market plan that helps you buy, sell or invest with confidence in Mississauga, Oakville, Toronto, Burlington or Muskoka.
FALL MARKET KICKOFF: September 2025 Real Estate Market Update
As summer winds down, the Greater Toronto Area (GTA) real estate market is shifting once again—this time with an important boost from the Bank of Canada’s recent interest rate cut. On September 17, 2025, the Bank lowered its policy interest rate to 2.5%, marking a significant move that is expected to reinvigorate buying activity across the region.
Market Snapshot: August 2025 (TRREB)
According to the Toronto Regional Real Estate Board (TRREB), August brought encouraging signs of stability:
- Sales: 6,232 transactions across the GTA, a 4.6% increase from August 2024.
- New Listings: 13,119, down slightly year-over-year, helping balance supply.
- Average Selling Price: $982,880, nearly flat compared to last year (+0.4%).
- Trend: Balanced conditions are giving both buyers and sellers room to maneuver, with the recent rate cut expected to stimulate fall demand.
City & Regional Highlights
Toronto 
Toronto continues to see steady demand for condos and townhomes, appealing to buyers looking for affordability in the core. Detached homes are moving more cautiously, but price stability suggests confidence returning to the market.
Mississauga 
Mississauga remains a buyer-friendly market, especially in the detached and semi-detached segments. With borrowing costs easing, families upsizing or relocating may find strong value in the fall.
Oakville 
Luxury demand in Oakville is regaining traction. The combination of limited inventory and lower financing costs positions this market for an active fall season, especially for executive homes and lakefront properties.
Burlington 
Burlington continues to attract buyers migrating west from Toronto. The city’s blend of affordability, lifestyle, and community feel has kept prices steady and competitive.
Muskoka 
Cottage country remains strong, with buyers eyeing investment properties and second homes. While activity softened slightly through the summer, the rate drop could encourage more buyers to act before year-end.
What This Means for Buyers & Sellers
With interest rates now at their lowest level in two years, affordability is improving across the GTA and Muskoka. Buyers who were waiting on the sidelines are expected to re-enter the market this fall, while sellers may benefit from increased competition for well-priced homes.
At Regan Irish & Associates, we specialize in helping clients navigate market shifts with confidence. Whether you’re buying a luxury home, selling a family property, or investing in Muskoka, our market insight and negotiation expertise ensure you get the best results.
1320 Cornwall Rd Unit 103, Oakville, ON L6J 7W5
905.842.7677
August 2025 GTA Real Estate Market Update | Regan Irish
The August 2025 GTA Real Estate Market Update reflects renewed momentum and affordability in Toronto, Oakville, Mississauga, Burlington, and Muskoka. Thanks to steady interest rates and appealing home prices, July proved surprisingly dynamic. Let’s dig into the numbers and what they mean for you.
Interest Rates Remain Stable — Affordability Fueling Activity
In July 2025, the Bank of Canada maintained its key rate at 2.75%, its third consecutive pause. With lower borrowing costs now more accessible, affordability is encouraging a wave of renewed buyer activity.
GTA Market Overview: Sales Surge, Prices Slightly Dip
- Home Sales: 6,100+ transactions region-wide, marking a 10.9% increase YoY and the strongest July since 2021.
- Month-over-Month: Seasonally adjusted sales rose 13% from June to approximately 5,744 units, the biggest monthly gain in nine months.
- New Listings: Up 5.7% YoY, totaling 17,613 new offers.
- Price Trends:
- The MLS® Home Price Index (HPI) Composite Benchmark fell 5.4% YoY.
- The average GTA selling price dropped 5.5% YoY to around $1,051,719.
- Word on the street indicates the HPI drifted slightly lower—about $979,000, down 0.2% from June.
What It Adds Up To: Buyers are back in force—sales are outpacing new listings while prices softened, creating renewed market opportunities.
City Highlights
Toronto
A more balanced landscape—but some segments remain soft. Condos and detached homes see inventory rising; semis are steadier.
Oakville, Mississauga, Burlington & Muskoka
While TRREB doesn’t break down by city in these reports, regional trends suggest:
- Mississauga & Burlington: Strong rise in listings and dipping average prices give buyers leverage.
- Oakville: Stability in demand for luxury keeps discounts modest.
- Muskoka: Continued strong interest in sub-$2M waterfront properties should benefit from broader GTA momentum.
What This Means for You
- For Buyers:
Renewed affordability, rising inventory, and favorable interest rates make August a prime time to move. - For Sellers:
A more balanced market—strategic pricing and quick response will be key to success. - For Investors & Cottage Buyers:
Strong July sales in the GTA point to increasing investor interest; Muskoka remains a high-value lifestyle and investment destination.
Work With the GTA Real Estate Experts
Whether you’re planning to buy a Muskoka cottage, invest in a luxurious Oakville property, or explore options across Toronto, Mississauga, or Burlington, now is the time to act.
Regan Irish & Associates specializes in luxury, resale, and investment properties across the GTA and Muskoka. Our market insight and negotiation skills help you get the best results—whether buying, selling, or investing.
1320 Cornwall Rd Unit 103, Oakville, ON L6J 7W5
905.842.7677
Visit reganirish.com
Let’s make today’s market your opportunity—contact us today!