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As buyers continued to benefit from more choices, the annual rate of price growth has moderated. Market for sellers has surged, demand was more than supply. The supply made a steady gain, signaling movement toward a more balanced market. Inventory increased by 57.6% compared to last year. Median price also surpassed last year's level by 3.1%

Average homebuyers in Toronto needed to earn approx $226.5k/year to obtain a mortgage in June 2022. The amount increased by 7% compared to March 2022.
The average home price in Toronto was $1.2M in June 2022. For the average home, would-be buyers needed a mortgage of $963.9k. The mortgage needed to buy the average home in March was $1M.

A majority of Canadians are willing to make at least one sacrifice in their lives in order to afford a home amid high prices and rising interest rates, a new report suggests, with most saying they would relocate to a more affordable area.
Higher borrowing costs continued to impact home sales, resulting in a moderate annual pace of price growth. The market for sellers has surged, demand was more than supply. Active listings were lower than 2021, prices would continue rising.