Toronto & Vancouver Are Now The Weakest Real Estate Markets In Canada

Canadian real estate is experiencing significant shifts, with the sales to new listings ratio (SNLR) dropping to 44.5% in September, nearing a buyer's market. Toronto and Vancouver now have the weakest demand, with SNLRs of 27.6% and 30.3%, respectively. Conversely, cities like Quebec City and Sudbury are seeing increased demand, particularly in government employment hubs. Calgary's SNLR fell to 55%, marking the largest drop, yet remains balanced. Sellers are entering the market, increasing downward pressure on prices, while some opt to default rather than lower prices.