Appraisal challenges persist in Toronto as prices keep falling
There are no easy solutions for brokers in such a situation. Donaldson said common steps might include changing lenders, ordering a new appraisal, and showing them a comparison with reasons why the broker believes the value is there.
That can mean the broker’s role might more closely resemble project management than sales. “As a mortgage broker, you’re basically a quarterback,” Donaldson said. “You’re quarterbacking the appraisal, the legals, working with the lender.
“There are a lot of moving parts you can’t fully control, but you can support the value as best you can.”
What’s the outlook for Toronto home prices in the second half of 2026?
Despite those challenges, TRREB sees green shoots emerging in the Toronto market. Chief information officer Jason Mercer noted that the annual rate of decline in prices has fallen in the past several months, a trend that’s likely to continue.
“If market conditions continue to tighten in the second half of 2026, selling prices could move in line with 2025 and eventually post some increases,” he said in remarks accompanying the board’s latest release. “This would give an increasing number of households the confidence to move back into the marketplace.”
