Toronto’s condo crash just entered the consequences phase.

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New condo sales in the Greater Toronto Hamilton Area fell to their lowest level since 1991 with record project cancellations, showing demand has collapsed and future supply is shrinking.

https://canada.constructconnect.com/dcn/news/economic/2026/01/new-condo-sales-in-greater-toronto-hamilton-area-plunge-to-lowest-level-since-1991

Toronto real estate prices are down sharply (about 27% from peak) and inventory has reached record highs, signaling deeper weakness in the housing market.

https://betterdwelling.com/toronto-real-estate-crash-prices-down-27-inventory-hits-a-new-high/

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