"Should I buy now or wait?" is the most common question GTA buyers ask in 2026. The honest answer: trying to time the exact bottom rarely works, and the right move depends on your finances and time horizon far more than on a forecast. Here's a framework to decide.
Time in the market beats timing the market
Prices, rates and inventory all move, and no one reliably calls the bottom. If you plan to own for several years, short-term timing matters far less than buying something you can comfortably afford and hold. Trading transaction costs (land transfer tax, legal, moving) repeatedly to chase timing usually costs more than it saves.
Buy sooner if…
- You're financially ready — stable income, a real down payment, and a full pre-approval.
- You'll stay put for 3–5+ years, so short-term swings wash out.
- You've found a home that fits your needs and budget with room to absorb a rate change.
Wait if…
- Your down payment or emergency fund isn't there yet — a bigger down payment lowers cost and can avoid default insurance.
- Your income or job situation is uncertain.
- You'd be stretched at the stress-test qualifying rate, not just today's rate.
The rate reality
The Bank of Canada has signalled it's near the end of its easing cycle, so waiting for dramatic rate cuts is a risky plan. In a balanced, "lower for longer" market, a prepared buyer with a rate hold has real negotiating room today. Model your specific numbers with Summitly's calculators before deciding.
Bottom line
Don't buy because of FOMO, and don't wait purely to time the market. Buy when your finances are ready and you find the right home — and let a multi-year hold smooth out the rest.
