Why Canada’s condo market is unraveling - Real Estate Magazine Canada

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After a wave of rapid expansion, Canada’s condominium market is facing a dramatic reversal, as a glut of unsold inventory and a sharp retreat by investors have triggered a sector-wide slowdown.

A report from the Canada Mortgage and Housing Corporation in June found that condominium apartment sales in Toronto have dropped 75 per cent from 2022 to the first quarter of 2025. In Vancouver, condo sales have dropped 37 per cent for the same period, according to the report.