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Home Sales Slow in Canada’s Hottest Markets as Condo Glut Builds

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(Bloomberg) — Canada’s hottest housing markets are slowing down as unsold condos pile up with more people fleeing dense downtown living for the suburbs.



a cactus in a city: Buildings stand in the downtown skyline in this aerial photograph taken above Toronto, Ontario, Canada, on Monday, Oct. 2, 2017. Toronto housing prices fell for a fourth month in September as sales remained sluggish, particularly in the detached-home segment that has borne the brunt of the correction in Canada's biggest city.

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Buildings stand in the downtown skyline in this aerial photograph taken above Toronto, Ontario, Canada, on Monday, Oct. 2, 2017. Toronto housing prices fell for a fourth month in September as sales remained sluggish, particularly in the detached-home segment that has borne the brunt of the correction in Canada’s biggest city.

Home sales in Toronto, Canada’s financial capital, fell 2.1% in November from October, the third straight month transactions have dropped on a seasonally adjusted basis, according to data released Thursday by the Toronto Regional Real Estate Board.

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In Vancouver, which has Canada’s most expensive real estate, home sales slid 17% on an unadjusted basis compared with a month earlier, the Real Estate Board of Greater Vancouver said Wednesday. Prices were

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