The Real Estate Decisions People Are Putting Off in 2026

Should you buy a home now or wait until 2027? Sell this fall or hold off until spring? Renew your mortgage or consider moving? Here are 12 questions worth answering before putting your real estate plans on hold.

Buying, selling, renewing a mortgage or downsizing. Many Durham Region homeowners and prospective buyers are putting major real estate decisions on hold as 2026 comes to a close.

But what are they actually waiting for? Lower mortgage rates? Better home prices? More listings? A stronger spring market?

Waiting can be the right decision. The important part is understanding what could change, what might not, and how those changes could affect your next move.

Here are 12 real estate questions worth answering before deciding whether to make a move now or wait until 2027.

1. Should I Buy a House Now or Wait Until 2027?

Waiting might give you more time to save for a down payment, improve your financial position or find a property that better suits your needs.

However, waiting also means entering a market where home prices, borrowing costs and available inventory may be different.

A lower purchase price doesn't automatically mean a lower monthly mortgage payment. Similarly, lower mortgage rates don't guarantee that the home you want will still be available at the same price.

Before deciding to wait, consider:

What you can comfortably afford today.
Whether suitable properties are currently available.
How different mortgage rates would affect your monthly payments.
How much you're currently spending on rent or other housing costs.
Your expected down payment and closing costs.
Whether your personal circumstances make moving sooner more practical.

In Ontario, buyers should also budget for land transfer tax, legal fees, adjustments and other applicable closing costs. Eligible first-time buyers may qualify for land transfer tax rebates.

The question isn't simply whether buying will be cheaper in 2027. It's whether your overall financial and personal position will be better.

2. Will House Prices Drop Further in Ontario in 2027?

Nobody can know with certainty where Ontario home prices will be next year.

According to the Toronto Regional Real Estate Board (TRREB), the GTA's average selling price was $993,410 in August 2026, down 2.7% compared with August 2025.

There were 5,057 home sales across the GTA, a 2.1% year-over-year decline. New listings fell more sharply, decreasing 14.1% to 12,075.

In Durham Region, the average selling price was $819,569 in August, compared with $834,312 in July. Durham recorded 602 sales and 1,423 new listings during August.

These numbers provide useful context, but they don't tell the whole story.

A detached home in Whitby, a townhouse in Ajax and a condominium in Oshawa can experience very different market conditions.

Even within the same community, price range, property condition and competing inventory can influence what buyers are prepared to pay.

If you're waiting for prices to fall, pay attention to the type of home you actually want to purchase rather than relying exclusively on the GTA average.

3. Will Mortgage Rates Go Down in 2027?

Mortgage rates remain an important consideration for buyers and homeowners approaching renewal.

On September 2, 2026, the Bank of Canada maintained its overnight policy rate at 2.25%. Its next scheduled interest rate announcement is October 28, 2026.

However, the Bank of Canada's overnight rate and the mortgage rate offered by your lender are not the same thing.

Variable mortgage rates are generally influenced by lenders' prime rates, while fixed mortgage rates are more closely associated with bond yields and other lending conditions.

That means mortgage rates can change even when the Bank of Canada leaves its policy rate unchanged.

Rather than basing your entire real estate decision on a possible future rate reduction, speak with a mortgage professional about different payment scenarios.

Understanding what you can comfortably afford at today's rates, and how that could change, provides a more useful starting point than trying to predict exactly where rates will be next year.

4. What Happens When My Mortgage Renews in 2026 or 2027?

For homeowners who secured mortgages during the period of exceptionally low interest rates, renewal may bring a noticeable change in monthly payments.

An August 2026 survey found that 38% of Canadian respondents approaching mortgage renewal expected their monthly payments to increase. Among Ontario respondents, that figure was 39%. These were borrowers' expectations, not confirmed future payment increases.

If your mortgage is approaching renewal, it's worth reviewing your options before automatically accepting your lender's first offer.

Consider the following questions:

What will your new monthly payment look like?
Can you comfortably manage that payment?
Would comparing lenders or mortgage products improve your options?
Are you planning to sell or purchase another property during your next mortgage term?
Would a different mortgage term better accommodate your plans?

It's also important to understand the difference between renewing and refinancing.

A mortgage renewal generally involves continuing your existing mortgage for another term. Refinancing involves changing the mortgage arrangement, potentially to access equity, change borrowing amounts or consolidate debt.

Switching lenders or refinancing may involve qualification requirements, legal or administrative fees, and other conditions.

If you're already considering selling, downsizing or moving to another property, discuss those plans with your mortgage professional before committing to a new term.

5. Should I Sell My House This Fall or Wait Until Spring 2027?

Spring is traditionally associated with increased real estate activity, but that doesn't automatically make it the right time for every homeowner to sell.

More buyers may enter the market during spring, but more homeowners may also decide to list their properties.

That means your home could face additional competition.

Selling during the fall may provide an opportunity to reach buyers who are still actively looking, particularly when the available selection of comparable properties is limited.

However, the right decision depends on your home's condition, pricing, current competition and preferred moving timeline.

For example, a homeowner selling a detached property in Whitby should be looking at the supply and recent sales of comparable detached homes, not simply the number of properties available across Durham Region.

If you're considering waiting until spring, use the additional time productively. Complete necessary repairs, prepare your home and establish a pricing strategy based on current market conditions.

The calendar alone shouldn't determine your selling strategy.

6. How Much Is My House Worth in Today's Market?

Your home's current value affects several major decisions, including whether to sell, refinance, downsize or purchase another property.

Online home-value estimates can provide a starting point, but they may not accurately account for renovations, property condition, layout, lot characteristics or recent comparable sales.

Even a neighbouring home that recently sold may not be an accurate comparison.

Two properties on the same street can achieve different selling prices because of their condition, upgrades, layout, presentation or timing.

A proper market evaluation considers:

Recent sales of comparable properties.
Homes currently competing for buyers.
Your property's condition and distinguishing features.
Current buyer activity in your neighbourhood.
Market conditions within your specific price range.

Before putting your plans on hold because you believe your home is worth a particular amount, establish what the current market actually supports.

7. Should I Buy a New Home Before Selling My Current One?

Buying before selling can provide greater certainty about where you're moving. However, it may introduce financial pressure if your existing property takes longer to sell or sells for less than anticipated.

Selling first gives you a clearer understanding of how much money you'll have available for your next purchase, but it may create pressure to find another property within a particular timeframe.

Neither approach works for everyone.

Before deciding, consider your available equity, mortgage qualification, financial flexibility and how quickly comparable properties are selling in your neighbourhood.

You should also discuss whether bridge financing is available and appropriate for your situation.

Bridge financing may help cover a temporary gap between the closing dates of your sale and purchase, but it generally requires a firm sale agreement and lender approval. It isn't a substitute for having a plan if your existing property hasn't sold.

A coordinated buying and selling strategy can help you understand the financial implications of each approach before committing to either transaction.

8. Should I Renovate My Home Before Selling It?

Not every renovation produces a worthwhile return when selling.

Some improvements can help your home appeal to more buyers, while others may cost more than they're likely to contribute to the final selling price.

Before starting a major project, determine whether it addresses something that could affect buyer interest or simply reflects your personal preferences.

In many cases, preparing a property for sale is more about addressing its overall presentation than undertaking expensive renovations.

Cleaning, minor repairs, decluttering, fresh paint and professional staging can help buyers appreciate the space without requiring a complete remodel.

The goal is to prepare your home for the people most likely to purchase it.

Before spending thousands of dollars on renovations, find out which improvements are likely to make a meaningful difference in your particular market.

9. Why Are Some Homes Selling While Others Are Taking Longer?

Two homes in the same Durham Region community can experience very different selling results.

Price, condition, layout, presentation, competing listings and buyer expectations all influence how a property performs.

The first step is understanding what buyers can purchase at a similar price point.

A property may be attractive on its own, but if buyers see better value in competing homes, they may choose another option.

This is why a selling strategy needs to account for current competition rather than relying exclusively on what comparable homes sold for several months earlier.

Strong photography, thoughtful presentation, appropriate pricing and effective marketing all contribute to how a home is introduced to the market.

The objective is to give buyers a compelling reason to consider your property over the alternatives available to them.

10. Is It Better to Rent or Buy a Home in Durham Region?

For some people, buying offers long-term housing stability and the opportunity to build equity. For others, renting provides greater flexibility and avoids certain ownership responsibilities.

The comparison should extend beyond monthly rent versus a mortgage payment.

In Ontario, homeownership costs can include:

Mortgage payments.
Property taxes.
Home insurance.
Utilities and maintenance.
Condominium fees, where applicable.
Land transfer tax and other closing costs when purchasing.

Renting may allow you to save or invest money that would otherwise be committed to purchasing and maintaining a property.

Buying may provide greater control over your living space and the opportunity to build equity over time, although property values can also fluctuate.

Consider how long you expect to remain in the area, your financial position, lifestyle and the total cost of both options.

The right decision should reflect your circumstances rather than the assumption that everyone needs to own a home as quickly as possible.

11. Is Downsizing Worth It in the Current Real Estate Market?

Downsizing isn't just about moving into a smaller property.

The financial benefit depends on what your existing home sells for, the purchase price of your next property and the expenses associated with both transactions.

Those expenses may include real estate commissions, legal fees, moving costs, land transfer tax on your replacement property and potential mortgage penalties.

A smaller condominium may reduce certain maintenance responsibilities but introduce monthly condominium fees.

There are also lifestyle considerations.

Would you prefer fewer stairs? Less outdoor maintenance? A location closer to family, shopping or recreational amenities?

Before deciding to downsize, calculate what you'd realistically have left after selling your current property and purchasing the next one.

A smaller home doesn't automatically mean lower overall housing costs.

12. What Should I Do First If I'm Thinking About Moving in 2027?

You don't need to be ready to list your property or make an offer to begin preparing.

Start by establishing three things:

Your home's current market value. Understanding what your property could realistically sell for will help determine your available equity and potential buying budget.
Your purchasing options. Speak with a mortgage professional to establish what you can comfortably afford, including the costs associated with your next purchase.
Your preferred timeline. Consider when you'd ideally like to move and what needs to happen before then.

These answers can help you decide whether moving this fall, over the winter or next spring makes the most sense.

You may discover that waiting is appropriate. You may also find that your plans are more achievable now than you expected.

Either way, you'll be making that decision with actual information rather than assumptions about what the market might do.

Before You Put Your Real Estate Plans on Hold

You don't have to make a move today. But you should know what you're waiting for.

If you're considering buying, selling, downsizing or moving in 2027, start by understanding your home's current value, what you can comfortably afford and how the Durham Region market is performing in your price range.

That information gives you a clearer basis for deciding whether to move now or wait.

Thinking about making a move before 2027? Let's review your options. Contact the Dan Plowman Team at ????(905) 668-1511 or get in touch with our team.

Posted by Dan Plowman on September 29th, 2026