Toronto vs. everybody: A growing housing market divide

Canada's housing market showed significant regional disparities at the end of 2024, with Ontario lagging behind other provinces. Toronto's condo market faced increased supply and declining prices, marking it as a buyers' market. Nationally, existing home sales fell 5.8% in December but were up 19.2% year-over-year. While new listings rose, inventory remained stable, leading to balanced market conditions. In contrast, markets in Quebec, the East, and the Prairies thrived, with strong sales and rising prices, while British Columbia's Vancouver market remained in recovery.