I had a dream once that Toronto house prices suddenly became affordable, but then ablast of arctic airshattered it and I awoke to areport from Royal LePage预测价格上涨了近7%next year.

The report estimates that Toronto's prices will reach an aggregate of $901,392 in 2018. That number peaked at $844,000 this year.

Toronto home sales are expected to soften during the first part of the year on account ofstricter mortgage regulationsset to begin on January 1 that'll make it harder for existing and prospective home owners to secure financing.

Royal LePage does, however, expect sales figure to eventually reach similar levels to 2017.

What does #2018 hold for Canada's#realestatemarkets? The Royal LePage 2018#forecastis out! Learn more about#homeprice trends in the new year.https://t.co/6VGOF92zrnpic.twitter.com/1SuxJPLt6B

— Royal LePage Canada (@Royal_LePage)December 13, 2017

Despite the anticipated slow sales to start the year, prices will continue to rise on account of a continuing supply crunch in the Toronto area.

It's interesting note that while inventory rates often fluctuate month to month, the overarching tensions betweensupply and demandis a key factor in making Toronto one theleast affordablereal estate markets in the country.

Detached homesare stillthe most valuable real estate commodity, which isn't aided by aspeculative marketthat might be even more influential than foreign ownership, which was targeted withnew provincialrules earlier this year.

While the home price increase is merely an estimate, judging from the past few years it does seem that Toronto's housing market has simmered down since the days of20 per cent jumpsin home prices.

There might still be some hope after all.