By Himu Mustafa
Toronto, ON – With “For Sale” signs lingering longer on lawns and open houses drawing smaller crowds, many are wondering: is now the right time to buy real estate?
Interest rates are coming down but consumer confidence is shaky, and prices in several parts of the country have dipped from their pandemic peaks. But behind the headlines, some buyers are quietly stepping in—betting that today’s uncertainty could turn into tomorrow’s opportunity.
“We Thought It Was the Right Time”
Naim Syed, a first-time buyer in Scarborough, recently purchased a three-bedroom townhouse after months of watching the market cool down.
“Everyone was saying ‘don’t buy now, wait,’ but prices had already dropped from last year,” said Syed. “We figured if we can afford the monthly payments and we’re staying long term, why not buy when others are hesitating?”
Naim, who works in IT, admitted that the higher interest rates were a concern. But after locking in a five-year fixed rate, he felt more confident about the decision.
“You can’t time the market perfectly,” he added. “But we didn’t want to keep renting and missing the boat if prices go up again.”
Builders Feel the Pressure
For homebuilders, the slowdown is being felt firsthand. Shan Dey, a developer who has built many homes across the GTA, said this year has been “markedly different” from the buying frenzy of 2021 and early 2022.
“Buyers are more cautious now,” Dey explained. “We’re offering incentives we never had to before—like appliance upgrades, cash rebates, and even mortgage rate buydowns.”
Dey believes this kind of market, while tougher, brings balance.
“It’s actually healthier in some ways,” he said. “People are taking their time, asking good questions, and not overbidding out of panic.”
Agents Say It’s a Window for the Brave
Sharif Ahmed, a veteran real estate agent in the east end, sees both hesitation and quiet opportunity among buyers.
“It’s not a seller’s market anymore,” said Ahmed. “But that doesn’t mean it’s a bad time to buy—especially for end-users and long-term investors.”
Sharif says he’s working with several clients who had been priced out during the peak, but now have more breathing room to negotiate.
“Last year, people were offering $50,000 over asking just to get noticed,” he recalled. “Now, I have buyers getting homes under asking with conditions. That never happened two years ago.”
What the Numbers Say
According to the Canadian Real Estate Association (CREA), national home sales have slowed, but listings have increased, giving buyers more options. Prices in many urban centres are still down compared to their highs in early 2022.
At the same time, rent prices have reduced in many cities, leading some renters to consider renting simply as a way to control housing costs.
The Bottom Line
Buying in a down market isn’t for everyone. It requires stable income, a long-term mindset, and the ability to weather short-term uncertainty. But for those who can afford to step in now, there may be rewards later.
“Markets always bounce back,” said Sharif Ahmed. “You just have to know what you’re buying and why you’re buying it.”
As real estate continues to shift, one thing is clear: the fear that holds some people back is the same force that creates openings for others.
