Canada’s condominium sector is lagging the broader housing market recovery, forcing many owners who want to upgrade to detached homes to either sell at steep discounts or postpone their plans. A Canada Mortgage and Housing Corp. report last month found condo sales since 2022 have plunged 75% in the Greater Toronto Area and 37% in Greater Vancouver, while inventories in both regions have more than doubled. Regional data underline the trend. The Toronto Regional Real Estate Board said first-quarter condo transactions fell 21.7% from a year earlier even as new listings jumped 25.2%. In May, GTA condo sales slid a further 25.1%, far exceeding declines for detached houses and townhouses. In Vancouver, June recorded 1,040 condo deals, a 16.5% year-over-year drop, compared with a 5.3% slide for detached properties. Brokers and mortgage advisers attribute the weakness to a surge of new supply, diminished investor demand and lingering economic uncertainty tied to tariffs and job losses. With prices still under pressure, agents report sellers increasingly accepting losses or renting out units, while would-be move-up buyers struggle to extract sufficient equity for down payments. CMHC expects the condo segment to remain soft as completions stay near record highs and demand shows little sign of strengthening.