Will the Toronto Condo Market Slow Down?

01 July 2015

More and more people keep asking me, “When will the Toronto real estate market slow down? Will we have a price correction?”  If you are Garth Turner, a correction has been about to happen for the last few years. If you bet on that horse, you would still be renting.

My take is very simple, we have over  100,000 people moving to the GTA each year. Everyone needs a roof over their head. The housing being built, primarily condos, is for these people. That’s not speculation, but keeping up with demand. When Toronto is not a place that people want to move to, then we will have a problem.

When will that happen? Just watch the Ontario and Federal Governments, do they want job growth, or do they want to raise taxes to cover their mistakes. It may not happen this year, but when it comes, real estate markets will slow. Until then, real estate markets will continue to grow.

If you're looking for more information on price corrections, check out are article from a few years back, How to Forecast a Drop or Price Correction in Real Estate. Where we go into more detail about what indicators to look for when trying to predict a price correction.