Blog > The 'Wait and See' Trap: Why Markham Buyers Who Hesitate in 2026 May Regret It by 2028
The 'Wait and See' Trap: Why Markham Buyers Who Hesitate in 2026 May Regret It by 2028
by
The 'Wait and See' Trap: Why Markham Buyers Who Hesitate in 2026 May Regret It by 2028
CMHC projects sales will rise across Ontario's major CMAs starting in 2026 and continue trending upward into 2028. Many buyers are sitting on the sidelines, but the window of opportunity may be closing faster than you think.
The Psychology of Waiting
In real estate, the "wait and see" approach feels safe. When headlines talk about price corrections and interest rate uncertainty, staying on the sidelines seems like the prudent choice. But in Markham's 2026 market, waiting might be the riskiest move of all.
The Data-Driven Reality: CMHC projections indicate sales volume will rise across Ontario's major CMAs starting in 2026 and continue trending upward into 2028. This isn't hype — it's based on household formation, immigration targets, and supply constraints.
When demand rises while supply remains constrained, prices follow. Waiting for the "perfect" moment often means paying more later.
Why 2026-2028 Is a Critical Window
Several converging factors make the 2026-2028 period uniquely important for Markham buyers. Understanding these drivers helps explain why hesitation could be costly:
CMHC forecasts increased transaction volume starting 2026. More buyers competing for limited inventory means stronger pricing power for sellers.
Lower mortgage rates and extended amortizations (up to 30 years for first-time buyers) are improving purchasing power now — before prices climb.
Household formation has been delayed for many. As confidence returns, this pent-up demand will enter the market simultaneously.
New construction timelines remain long. Existing inventory will be absorbed quickly once buyer confidence returns fully.
Markham Market Forecast: 2026-2028
Increase by 2028
For First-Time Buyers
Pipeline
These projections suggest a market transitioning from buyer-friendly conditions back toward balance or seller advantage. Buyers who act while conditions favor them (lower competition, better financing options) position themselves ahead of the curve.
The Cost of Waiting: A Real Example
Consider a buyer waiting for prices to drop another 5% in Markham. Here's what could happen instead:
- Scenario A (Wait): Prices drop 5% in 2026, but by 2028, increased demand pushes prices up 10% from today's levels. Net result: You pay 5% more than if you bought now.
- Scenario B (Buy Now): You lock in today's price. Even if values dip slightly short-term, you secure housing stability and benefit from long-term appreciation as the market recovers.
- Interest Rate Impact: Waiting for rates to drop further might mean competing with more buyers, driving prices up and offsetting any rate savings.
✅ Signs It's Time to Stop Waiting
- You have stable income and employment security
- You plan to stay in the home for 5+ years
- You've been pre-approved and know your budget
- You're currently paying rent that could go toward equity
- You're waiting for "perfect" conditions that may never arrive
Financing Advantages Available Now
Government measures introduced to improve affordability create a unique window for buyers in 2026:
| Program/Measure | Benefit | Availability | Consideration |
|---|---|---|---|
| 30-Year Amortization | Lower Monthly Payments | First-Time Buyers | More interest paid over time |
| Rate Stability | Predictable Payments | All Buyers | Fixed rates protect against increases |
| Down Payment Flexibility | 5% Minimum | Under $500k portion | CMHC insurance required |
| Land Transfer Tax | First-Time Rebate | Ontario & Toronto | Significant savings for eligible buyers |
Risks of the 'Wait and See' Approach
⚠️ What You Risk by Waiting
- Price Appreciation: If CMHC projections hold, prices will rise as sales volume increases. Waiting means paying more for the same property.
- Increased Competition: As confidence returns, multiple offer scenarios will become common again. Buying now means less competition.
- Rate Uncertainty: While rates may stabilize, they could also rise if inflation persists. Locking in now provides certainty.
- Life Delay: Waiting to buy means delaying life milestones — starting a family, renovating, building equity, and putting down roots.
- Rent Increases: While you wait, you're paying rent that builds no equity. Rental rates in Markham continue to climb with demand.
Frequently Asked Questions
Should I wait for prices to drop further?
Timing the market perfectly is nearly impossible. CMHC data suggests prices will stabilize and rise as sales volume increases. Buying when you're financially ready and planning long-term is generally smarter than trying to time short-term fluctuations.
What if interest rates go back up?
Fixed-rate mortgages protect you from rate increases during your term. Many buyers choose 3-5 year fixed terms for stability. You can also refinance later if rates drop significantly.
Is now a good time for first-time buyers?
Yes. Extended amortizations, first-time buyer incentives, and currently lower competition create a favorable environment. Once the market heats up, these advantages become less impactful.
How long should I plan to stay in my home?
Real estate is a long-term investment. Planning to stay 5+ years allows you to ride out market cycles and build meaningful equity. Short-term flips carry more risk in any market.
What if I buy and prices drop slightly?
Short-term fluctuations are normal. If you're buying for long-term housing needs, temporary price changes matter less than securing a home you love. Historically, Markham real estate appreciates over 5-10 year periods.
Ready to Stop Waiting and Start Building Equity?
Michael John Lau helps Markham buyers navigate market timing with data-driven strategies. Let's review your financial position and determine if 2026 is your year to buy.
🏆 Michael John Lau — Awards & Recognition
Michael John Lau is a licensed REALTOR® serving buyers, sellers, and investors in Markham, Ontario and the Greater Toronto Area. Market projections and CMHC data are based on published forecasts and are subject to change. This article is for informational purposes only and does not constitute financial or investment advice. Always consult directly with a licensed real estate professional and qualified financial advisor before making any real estate decisions. Not intended to solicit clients currently under contract with another brokerage.
More From the Blog
