We could be in for "a typical correction," one analysis predicts.
Declining prices in Vancouver are taking some of the risk off its housing market, but that's not the case in Toronto.
House prices are now falling in half of the cities that have the highest risk of a bubble burst, Swiss bank says.
Some argue the city's bubble has already come and gone.
Well that was fast.
Nearly half of Canadians are worried about what interest rate hikes will do to their mortgage payments.
She felt the plan would bring stability to the market. It has yet to do so – and if anything has caused more disruption than anything else.
There is a need for more supply to satisfy this rapidly rising need for millennial housing, but the demographic logjam created by baby boomers is restricting millennial access to prime properties, keeping them under-housed, stuck living with a roommate or confined to their parents' basements.
A strong economy can't explain the Toronto region's house price growth, the bank says.
"The frenzy is over .... Sanity is returning to the marketplace."