Toronto has entirely too many condos on market and nobody is buying

Experts warn that Toronto's real estate market is facing an oversupply of condos, benefiting buyers but hurting sellers and developers. TD Economics highlights a significant increase in condo listings, with supply up over 30% compared to typical levels. The average condo price has dropped by 5% from 2023, with further declines expected. Weak sales and high inventory are causing challenges, as many investors are now losing money on their properties due to lower rents and rising interest rates.