More supply on its own is not the whole story. The Bank of Canada's rate decisions move borrowing costs directly, and a lower rate can offset a rising benchmark price just as easily as more listings can, so affordability moves on more than one lever at a time.
CMHC's lending guidelines, capping housing costs at roughly 39 percent of gross income, mean the math a buyer actually faces changes with both the price and the rate at the same time, not with price alone.
Joel Dyck can walk you through what today's numbers actually mean for your specific buying or selling timeline, rather than a general prediction. Get your hand-reviewed valuation from Joel Dyck.