Toronto housing market just crossed a historic milestone amid market collapse

As of this week, according to the latest MLS stats circulating on industry social media, there are now more than an astounding 32,000 active residential real estate listings in the GTA, not even counting never-lived-in units. This is the most in many years, perhaps ever, and has created the largest disparity the city has seen between supply and demand.

So then reduce the prices.

You can't call it a collapse, complain about all the supply you have, refuse to reduce prices, and rally to the praises of free-market capitalism. The market has spoken. You have overvalued your property. Now give us houses and take your loss.

And the prices are falling right?

In their graphics things peak at June/July, so realistically this feels like a metric that should be shown seasonally adjusted.

I wouldn't say this is a market collapse until we see that in pricing.