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In Echo of Toronto, Condos Start Flooding the Market in Montreal

  • Condo listings rise most in 17 years as virus makes impact
  • Lower immigration hurts rental market, downtown demand
Bloomberg business news
Real Estate Is Experiencing a Rebalancing, Says Redfin CEO

It’s not just Toronto. Montreal is seeing a flurry of condos being put up for sale, suggesting the city’s housing boom may be fading as the effects of the pandemic start to bite.

New condo listings on the island of Montreal were up 72% in the third quarter, the biggest annual increase in 17 years, according to data from the Quebec Professional Association of Real Estate Brokers. The greater Montreal area recorded a 61% jump.