Toronto condo sales plummet CMHC says • masterful guide

Condo sales plummet in Toronto and Vancouver but more resilient ...

Echoing a CMHC observation, the TRREB says the GTA market is heavily investor-driven, with nearly 75 per cent of Toronto condos owned by investors .

The CMHC doesn't expect the economics on condos to improve anytime soon, describing markets that are awash in inventory. "In Toronto , where the market weakness is the most pronounced" pre-construction inventory was 14 per cent higher in the first quarter that in 2022 and would take almost six years to sell at the current pace of deals.

Weak condo markets in Toronto and Vancouver threaten future housing ...

Spurred by a range of factors, the weak condo markets in the two cities have seen sales plummet , just as scores of new completions keep adding to inventory. Recent economic uncertainty means there is "little evidence to suggest that price and rent declines are likely to quickly reverse," the CMHC says .

9 Toronto condo developments have been cancelled in 2025 due to poor sales and high costs, says CMHC and Urbanation. More cancellations are likely in the coming quarters.

CMHC releases new analysis of condo markets in Toronto and ...

OTTAWA, ON, June 10, 2025 /CNW/ - Between 2022 and 2025, condominium apartment sales dropped by 75% and 37%, in Toronto and Vancouver Census Metropolitan Areas (CMA), respectively.

Sales of new, resale, and pre-construction units have plunged since mid-2022, marking a stark shift from the boom period driven by low interest rates and investment. By the first quarter of 2025, condo apartment sales had dropped by a staggering 75 per cent in Toronto and 37 per cent in Vancouver compared to mid-2022 levels, reads the report.

Greater Toronto Hamilton Area new condo sales plummet to lowest since 1991

More and more homebuyers are steering away from new condos in the Greater Toronto and Hamilton Area, as new data reveals sales for that market declined to the lowest seen in more than 30 years.

CMHC's report says that a record high of 25,572 condos were completed in Toronto in 2024, while 12,442 were done in Vancouver. Toronto now has 14 times more months of inventory than it did in 2022, according to the report, and it would take 58 months to sell that current stock at the current rate of sale .

Condominium apartment market risks in Toronto and Vancouver

Explore 2025 condominium market risks in Toronto and Vancouver, including declining sales , falling prices and rising inventories impacting housing supply.

If housing market watchers needed any further proof that 2025 was a wretched year for Toronto's condo sector, a report last week showed that new condo sales in the Greater Toronto Area (GTA) and ...