The condo market is slowing down. Where are all the buyers?
The condo market meltdown in Canada’s largest cities is showing no signs of fading. Experts say the market has shifted significantly over the past few months, as supply soars and demand disappears.
“We’re pretty much at a recession in the condo market,” said Robert Kavcic, senior economist at Bank of Montreal.
The downturn is concentrated in Toronto and across southern Ontario, and to a lesser extent Vancouver, he explained. Other markets, like Edmonton and Montreal, are holding up better for now.
