Uncategorized
Canada’s weak condo market leaves potential house buyers ‘kind of stuck’
While optimism is building in some parts of Canada for a rebound in the real estate market, condominium dwellers wanting to move up to a larger space face tough choices amid little sign of improvement for that segment.
Cities like Toronto and Vancouver have seen condo sales drop off, if not stagnate, in recent years following a rush of new supply opening up and plummeting investor demand.
For some regions, that marks a divergence from the overall real estate picture. Many industry watchers are now forecasting a turnaround in the housing market in the coming months after the first half of 2025 was plagued by economic uncertainty related to tariffs and job losses.
It’s left those looking to leave condo life behind and upgrade to a house in a tough spot: sell now at a lower than anticipated value, or wait out the storm.
“They’re kind of stuck,” said Victor Tran, a mortgage and real estate expert for Rates.ca.
“They hoped to bank on the appreciation of the condo in the coming years so they can pull that money out and use that as a down payment to upgrade to a larger home. But the money is just not there anymore.”
Since 2022, condo apartment sales have dropped by 75 per cent in the Greater Toronto Area and 37 per cent in the Vancouver area, respectively, said a report last month by Canada Mortgage and Housing Corp. Meanwhile, inventories have more than doubled and prices fallen in those regions.
The national housing agency said the condo market is expected to remain weak as completions “remain near record levels and demand remains subdued.” It added there is little evidence to suggest price declines will quickly reverse “given the national and global economic outlook.”
“There are certain (situations) where sellers have just decided to hit the sell button and take a loss on their condos, unfortunately, and just move on,” said Adil Dinani, a Vancouver-based real estate agent at Royal LePage West Real Estate Services.
“There’s a lack of liquidity in the condo market, so that’s preventing potential move-up buyers from reallocating that money, or buyers from moving up in the market, potentially, because their condos aren’t worth what they expected them to be worth.”
Get daily National news
Get the day’s top news, political, economic, and current affairs headlines, delivered to your inbox once a day.
A report released by the Toronto Regional Real Estate Board in May showed condo apartment sales in the Greater Toronto Area were down 21.7 per cent in the first quarter of this year compared with the first three months 2024. Meanwhile, new listings in the quarter were up 25.2 per cent year-over-year for that segment.
Condo sales were down 2.5 per cent last month on a year-over-year basis, roughly in line with overall home sales trends for the region. However, that came after activity in the condo market declined 25.1 per cent in May — far outpacing the drop in sales for other housing types.
That month, detached home sales declined 10.6 per cent, townhouses were down 9.8 per cent and semi-detached homes ticked 0.3 per cent lower from May 2024.
Toronto-area real estate agent Vy Ngo described the condo market as “brutal,” even as activity has started to stabilize when it comes to other properties.
“I have multiple condo listings right now. It’s very difficult to sell,” said Ngo, a sales representative with Big City Realty Inc.
“It will probably be trending down the rest of the year, (into) next year. It’s going to be awhile until it picks back up.”
In Greater Vancouver, there were 1,040 sales of condo apartments last month, a 16.5 per cent decrease compared with June 2024. That was a steeper year-over-year decline relative to sales of detached houses, which were down 5.3 per cent from June 2024, while sales of attached houses were up 3.7 per cent.
At the moment, Dinani said the market price for a successful condo sale is ultimately dependent on “who is the most motivated seller in the neighbourhood.”
“Some sellers are open-minded and are in a position where they want to sell and they’re committed to selling, and there are still buyers for those properties,” he said.
“But if you’re in a position where you have your mindset stuck on a certain price or a certain expectation and the market’s not supporting it, we’re just encouraging sellers to hit the brakes and find alternatives. So they’re staying in the home long-term, renting the property out if their financial situation allows them to do so, and then revisiting it.”
Tran called it a “scary time” for people looking to upgrade to a larger home due to the risks involved in selling their current property, such as the possibility that finding a buyer could take much longer than hoped.
While he said it’s safer to sell first and then make an offer on a new property to buy, that also comes with the risk of not finding a property in time to move.
“A lot of people are wondering, like ‘OK, when are we going to hit the bottom, when are we going to see some recovery and confidence put back into the market, when are we going to start seeing things turn around?’ No one knows,” said Tran.
“I, personally, don’t think it’s going to be any time soon.”
© 2025 The Canadian Press
TORONTO – Myles Straw’s timing to have a career game was perfect.
The Toronto Blue Jays outfielder was in the mix to lose his roster spot with the return of George Springer before the Blue Jays throttled the Texas Rangers 14-2 on Saturday.
But with Springer back after missing 15 games with a concussion, the Blue Jays instead optioned 26-year-old Joey Loperfido to triple-A Buffalo. The 30-year-old Straw would have had to clear waivers.
With a new skinny bat compared to the thicker torpedo bat he had been employing, Straw pounded a three-run homer in the second inning and followed with a two-run blast in the same left-field area in the third for his first multihomer outing and a career-high five RBIs.
“This team is great,” Straw said. “The roster is great. Joey’s been doing phenomenal. I don’t think he could have been doing any better.
“I think there’s a really good chance he’ll probably be back with us as soon as the rosters expand (in September). He’s played his butt off, and he’s earned every single bit of being here.”
Related Videos
Straw added two singles to lead the Blue Jays’ 18-hit attack with a 4-for-5 game. His play overshadowed Springer’s return.
Get daily National news
Get the day’s top news, political, economic, and current affairs headlines, delivered to your inbox once a day.
The 42,686 fans at Rogers Centre welcomed back Springer with a rousing ovation, leading off the bottom of the first as the Blue Jays’ designated hitter.
Springer struck out in his first two at-bats and then legged out an infield hit on a bouncer to third base before being hit by a pitch from position player Rowdy Tellez, who took to the mound for the final two innings.
“Seeing him hauling (his behind) down the line, it’s just who he is. He sets the tone for us,” Toronto manager John Schneider said.
There was some rust on Springer’s game, despite his rehab start in Buffalo on Friday, his first game since July 28, after a fastball from Baltimore Orioles Kade Strowd concussed him.
The 35-year-old Springer homered in the second of his three at-bats on Friday.
“It was really cool to hear the fans before his first at-bat,” Schneider said. “It’s just a good feeling having him back with his presence, his ability, his personality.”
Schneider also felt good about witnessing Straw’s performance.
“I remember in spring training, we had him in Group B with some of the younger guys in camp,” Schneider said. “He handled that well and just did his thing.
“He’s a pretty integral part of the clubhouse. He’s kind of tight with everybody. He understands the role that we’re asking him to play, and he’s playing it really well.”
Schneider called Straw “a winning baseball player.” He has played on winning teams, such as the Houston Astros and Cleveland Guardians.
The Astros drafted Straw, and he arrived in Toronto from Cleveland in an off-season trade.
“It feels the exact same,” said Straw when asked about the similarities to the Houston championship teams. “We’re winning. That’s what they did over there at the time, and that’s what we’re doing here.
“I feel like we win a lot of baseball games, which we do, and that’s how you win a world championship. You win games.”
This report by The Canadian Press was first published Aug. 16, 2025.
© 2025 The Canadian Press
TORONTO – Myles Straw followed an early three-run homer with a two-run shot for his first career multihomer game as the Toronto Blue Jays throttled the Texas Rangers 14-2 on Saturday.
Straw ignited a six-run second inning with his three-run homer to left field and smashed his two-run blast to the same area in the third as the Blue Jays (73-51) won their third straight before 42,686 at Rogers Centre.
Straw added to his five RBI outing with two more singles to lead Toronto’s 18-hit attack with a 4 for 5 day.
Bo Bichette delivered a bases-loaded two-run double in the second, in which Vladimir Guerrero Jr. was thrown out at home trying to score from first base.
Related Videos
Daulton Varsho piled on with a two-run homer as part of a three-run fifth. He reached base four times with three hits and a walk.
Get daily National news
Get the day’s top news, political, economic, and current affairs headlines, delivered to your inbox once a day.
With position player Rowdy Tellez on to pitch in the seventh inning, Davis Schneider also picked up a third hit with a three-run homer to left field.
Eric Lauer (8-2) left after walking the leadoff hitter in the sixth. His pitch count reached a season-high 102. He yielded a third-inning run on four hits and three walks with four strikeouts.
Texas lefty Patrick Corbin (6-9) departed after 2 1/3 innings, having given up seven runs on eight hits and two walks with two strikeouts.
Takeaways
Rangers: The Rangers (61-63) have lost four in a row.
Blue Jays: George Springer returned to the lineup after missing 15 games with a concussion. Batting leadoff in the designated hitter spot, he went 1 for 4 with two strikeouts, an infield hit and was hit by Tellez.
Key Moment
After committing a first-inning error on a fly ball, Schneider made a diving catch in left field in the fifth to take a possible run-scoring hit away from Jake Burger and end the inning.
Key Stat
Bichette’s two-run second-inning hit to the right-field gap was his 36th double to move him two behind AL leader Bobby Witt of the Kansas City Royals.
Up Next
Jose Berrios (9-4) will face Texas ace Nathan Eovaldi (10-3) in the series finale on Sunday.
This report by The Canadian Press was first published Aug. 16, 2025.
© 2025 The Canadian Press
TORONTO – Alejandro Kirk’s late-game heroics resulted in three deafening ovations from the 42,260 inside the Rogers Centre on Friday.
The first roar arrived in the seventh inning when the Toronto Blue Jays catcher smacked an opposite-field two-run homer to right.
The next inning, the sellout crowd cheered as Kirk delivered a bases-loaded single to left field to score the game-tying and game-winning runs.
But the most thunderous praise from the faithful came when Kirk caught the Texas Rangers by surprise and stole his first career base.
“I didn’t know what was going on,” Kirk said through an interpreter after the 6-5 win. “Then I turned around and saw myself (standing at second base) on the scoreboard.”
The Blue Jays celebrated along with their low-key teammate’s first stolen base. Vladimir Guerrero Jr. pulled the base out of the ground and presented Kirk with the keepsake.
Related Videos
Kirk stated the memento will soon be on display in his home. He also admitted he was surprised when first-base coach Mark Budzinski told him to steal second.
Get daily National news
Get the day’s top news, political, economic, and current affairs headlines, delivered to your inbox once a day.
“I looked around and said, ‘Are you serious?’” Kirk said.
Budzinski was serious. Kirk made history. He was holding on to the base during his post-game interview.
“The fact that he was holding it on the field post-game is even better,” Blue Jays manager John Schneider said. “I think they’re authenticating it.”
Although Toronto starter Chris Bassitt endured a difficult outing, lasting only five innings and giving up an early three-run homer, his night ended on a high note, watching his battery mate’s late-game wizardry.
“He’s catching (all-time base stealing leader) Rickey (Henderson) slowly,” Bassitt said with a smile.
Kirk hit his homer with an 0-1 count and his single with a 1-2 count.
“Kirk, the hitter, is pretty hard to face,” Bassitt said. “So I hate to say it, but I expect it from him. There are not many guys on our team that I’d rather have up than him because he can do damage with any kind of pitch.
“I’m always happy when he’s up late in big situations.”
This was the American League East-leading Blue Jays’ 39th comeback win of the season, and second in as many games after Guerrero belted a game-winning two-run homer in the seventh inning for a 2-1 win against the Chicago Cubs on Thursday.
“I think the more you do it, the more comfortable you are when you’re in that situation,” Schneider said. “It’s not luck. It’s hard to do, but like anything, the more you do it, the better you get at it.”
Springer, Bieber updates
George Springer homered in the second of three at-bats in his rehab start for triple-A Buffalo on Friday and could return to the Blue Jays lineup on Saturday.
Righty Shane Bieber pitched seven shutout innings in Buffalo, striking out four with six hits and no walks on 90 pitches.
Bieber could make his Blue Jays debut next week, likely on the road against the Miami Marlins next Friday.
This report by The Canadian Press was first published Aug. 15, 2025.
© 2025 The Canadian Press
-
Uncategorized2 months agoAccording to Dior Couture, this taboo fashion accessory is back
-
Uncategorized2 months ago
The old and New Edition cast comes together to perform
-
Uncategorized2 months ago
These ’90s fashion trends are making a comeback in 2017
-
Uncategorized2 months ago
Uber and Lyft are finally available in all of New York State
-
Uncategorized2 months ago
New Season 8 Walking Dead trailer flashes forward in time
-
Uncategorized2 months ago
Meet Superman’s grandfather in new trailer for Krypton
-
Uncategorized2 months ago
6 Stunning new co-working spaces around the globe
-
Uncategorized2 months ago
The final 6 ‘Game of Thrones’ episodes might feel like a full season