This article is total nonsense and completely based on wishful thinking. There are 1305 condominiums for sale on MLS in Central Toronto. Last year (a phenomenal year for real estate) there were 2081 condos for sale. This represents a 37% drop in supply. It’s not good for agents, buyers, sellers, or the City to have runaway prices in the real estate economy, but misleading consumers about “a flood of listings overwhelming buyers” is going to hurt some buyers who believe delaying will save them money.
May is always the largest month for inventory of homes for sale. It’s also possible that some sellers are cashing in prematurely. The reality of our housing supply has not changed and won’t anytime soon. What will happen is a gradual decrease in price increases due to affordability restricting demand. Having said this, prices will continue to rise for the foreseeable future.