Is there a moment for buyers to enter the housing market for the first time?

For many Canadians, there is little hope of home ownership in some of the country’s largest housing markets.

But this story seems to be shifting, at least in places such as Vancouver, Toronto and the surrounding areas, as prices are relatively low and interest rates seem stable.

Toronto Real Estate Agent Heather Hayden said, “I am definitely starting to see those buyers slowly coming back for the first time.” “I have not seen such a good time for the buyer for the first time in years and years.”

Hadden and many other experts are calling it a “buyer’s market” – especially for those who are looking for condos – because the supply is more and the pressure to work quickly is less.

“We are looking for a market at the end where buyers can talk, take their time, and they have a huge option where they can decide to make a proposal,” Hayden said.

Hayden said, “I would have said a year or two that for $ 600,000, you must have found, eg, a small child may be Kondo, or slightly larger, but not in the (Toronto) core,” Hayden said. “Under $ 600,000 now, you can get a very good one-bedroom condo.”

“And if you get out of the city in an hour or an hour, you can buy a three-bedroom house,” he said.

But is it a matter of now or never?

“Some buyers are feeling pressure to buy now or they are going to remember their opportunity, and I don’t think it’s quite a matter.”

“I don’t think we are going to see the prices of the same fugitive house that we had seen soon. Buyers still have time to consider their options and what they want.”

A turn?

According to the Canadian Real Estate Association (Crea), the average price of a house in Canada fell to about $ 150,000 between February 2022 and July of this year.

Final decline, Canada’s housing market began to see an increase as low interest rates were impacted.

By the end of 2024, the major interest rate was reduced by 3.25 percent, after sitting at five percent for about one year. This is currently 2.75 percent.

But many observers say the Canadian trade war with the United States, which began earlier this year, seemed to stop again for some homebuits. For RBC economist Robert Hague, who said he says he has started returning.

“As this economic uncertainty becomes easier, it should lead the route for recovery that was previously in motion (in 2024 fall). In the last few months, in the last few months, we have seen resale activity throughout the house in Canada, with Ontario and BC.

“Our idea is that perhaps this is a significant turn, and the demand for that paint-up is now being tapped because those individuals make their way back to the market.”

Hague also noted that there is a “recession” in housing construction in Ontario and British Columbia, which can also increase future prices.

“A combination of supply recession and demand rebounds will increase the possibilities of rapid price increase and physical loss of strength below the road,” he said.

The fear for some potential homebukers is that it quickly turns into a UP market, or seller’s market.

Blondo, while taking precautions, said that there are other market conditions that still indicate more turmoil, which can also reduce prices in some markets. The population growth in this is slow, uncertainty continues with American trade and what will happen further with interest rates.

“Bank of Canada was really good for homeowners last year, but there is no guarantee that will continue,” Blaondo said. “Interest rates remain a wild card. The future rate may be a positive (for hostage holders), but it is not a given.”

He says that at this time the job market is under pressure and “financial stress is more stress” in homes.

Green Street Research suggests that the number of hostage delays in Ontario, for example, has almost three times since 2022, and Blondo is expected to arrive.

“This year, we will see about half the hostage holders who signed with renewal of low rates. And this may mean that there would be more inventory on the market because people need to be sold,” he said.

Blondo says that for the first time there is no bad time for buyers, but the reasons for which they come out advise they monitor market conditions for the next six to nine months.

Hayden admitted that it is difficult to detect the bottom of the market. He pointed to a brief market in the end of 2008 in view of the financial crisis, given that he worked with buyers who chose to buy amidst great economic uncertainty.

“Some of them who sold after five to seven years, earned a million dollars,” said Hayden.

“Many people who say to me, ‘I want to wait below,’ I miss the boat.”

Buying outside major markets

While markets in BC and Ontario may remain less, the picture is not the same throughout the country.

The Hague indicates places such as Suskechewan and Vennipag, which has a lot of supply and demand condition.

He said, “For sale relative to the number of buyers (in those markets) there are less houses, and it keeps on increasing the prices,” he said. Hague also cited Cubek and Atlantic Canada, where prices are rising and market activity remains “strong”.

For many tenants who consider a jump in home ownership, current prices in places such as Toronto and Vancouver still remain a large extent ineffective and unconscious the fact that according to Crea, the average Canadian domestic price in January 2005 was shot in January 2025 from $ 243,000 to 710,000.

For example, when returned, Hayden gave an entry-level price for a bedroom condo in Toronto, what would you need to buy a house of $ 600,000?

According to Toronto -based hostage broker Marshal Tully, even with 20 percent down payment, you will need to earn approximately $ 100,000 per year to get the necessary mortgage.

“The Golden Rule is that you will achieve about four times more of your income based on current interest rates and refinement allowance,” he said.

Blondo says that is higher than the cost of a mortgage to consider, especially if the buyers are getting in the market market for the first time. Property tax and home insurance, as well as any maintenance fees.

“Along with the cost of those maintenance -home insurance and tax are not going down,” he said. “Young people forget those aspects.”

Hague says that there is a mixture of resale prasad, especially in the condo market, but he has heard many stories of people who have bought pre-building condo units as investment, but now they can’t find ready buyers.

“The value is a very powerful sign. It is to encourage demand and sales … full point is to attract buyers, and for some it will work and low price will fit what they are seeing,” he said. “For others, what is on the proposal does not suit their needs.”

For the first time buyers have to consider blondo’s advice to consider their options and get ready to work-but not to feel quickly.

“I don’t think we are going to see the runaway market we saw for so many years, so people should not feel whether they need to buy or never,” they said. “It is not the same market as it was.”