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According to BMO's recent report, the Canadian real estate market is generally stable, with most regions showing steady performance. The national real estate landscape is characterized by balanced market conditions, with neither excessive overheating nor significant downturns. Key factors contributing to this stability include moderate interest rates, a steady supply of housing, and resilient economic conditions.

However, the report highlights that Toronto condos are an exception to this stability. The Toronto condominium market has been experiencing notable challenges, including declining prices and increased inventory levels. This segment of the market has been particularly affected by higher interest rates, which have dampened buyer demand and led to a surplus of available units.

Despite these issues in Toronto, the overall Canadian real estate market remains robust. While certain areas, like Toronto condos, face specific difficulties, the broader market continues to demonstrate resilience. The report suggests that the long-term outlook for real estate in Canada remains positive, supported by factors such as a growing population and ongoing economic strength.

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