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David Fleming is back in a brand new season of The Last Honest Realtor! This is shaping up to be the busiest fall market since 2021, with interest rate cuts ahead, and quality inventory lacking in numerous geographic locations, price points, and housing styles. In this episode, David unpacks the biggest factors that will drive the months ahead — backed by hard data and market stats.

In this episode:

• Interest rates, inflation & unemployment – What the next Bank of Canada moves could mean for affordability
• Sales volume – Why 2025 is on track for a drop in sales volume and whether July’s small rebound signals a trend
• Inventory – Record-breaking stats for the number of active listings in a month
• The condo market – The condo market at its worst, and what could unlock movement in the freehold market
• Prices – Predictions that we’ll see a new 2025 price peak in the fall market

Timestamps:

04:13 Predictions on upcoming interest rate cuts

09:53 Unemployment, inflation, and banks’ rate forecasts 

12:01 “What in the world is happening with sales?”

18:46 Record-breaking stats for monthly active listings

22:15 Inventory absorption rates

24:29 Has the condo market hit bottom?

30:38 “Trends” vs what the stats show

38:07 Fall 2025: average home price reaching a new peak for 2025

If you’re buying, selling, or just curious about what’s next, this episode is packed with data, insights, and predictions you won’t hear anywhere else. Tune in for new episodes every other Tuesday.

#TorontoRealEstate #HousingMarket #InterestRates #CondoMarket #GTA #CanadaHousing

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In this episode of The Last Honest Realtor, David Fleming strips away the summer optimism and asks the question on every homeowner’s mind: when Toronto heads for the cottage, does the real estate market grind to a halt?

With data-driven analysis and candid field stories, David unpacks the seasonal myths and inconvenient truths behind sluggish sales, desperate price cuts, and the rush of sellers hoping the fall will “save” their year. If you’re expecting a summer lull, brace yourself—this year, it’s more than just the temperature that’s set to drop.

In This Episode:

• The reality behind Toronto’s summer market slow-down—and why it’s worse than usual in 2025
• Why buyers, sellers, and agents all pin their hopes on the fall, despite the numbers
• The surge of latecomers listing in June, and what it reveals about seller psychology
• How market fatigue is fueling a record number of relistings and terminated listings
• What absorption rates and sales volumes actually say about condo and freehold demand
• Why the rental market is bucking its own seasonal trends—and what it means for investors
• Interest rate cuts: what to expect, and why predictions rarely pan out as planned
• Lessons from the data: market troughs, false optimism, and how to make decisions in a buyer-seller standoff

Timestamps:
00:00 – Intro: Toronto real estate meets vacation season
02:00 – Summer market myths vs. 2025 reality
05:00 – The June seller rush: who lists, and why
09:00 – Sluggish sales and the cold, hard numbers
14:00 – The relisting spiral: inside the cycle of failed listings
18:00 – Why sellers are betting on the fall (and why that rarely works)
22:00 – Condos, rentals, and the decline of the “hot” summer market
28:00 – Predictions, data, and the path forward for buyers and sellers
33:00 – Closing thoughts: decision-making in a market on pause

Subscribe, comment, and share this episode with anyone banking on a summer sale—or expecting the market to do their heavy lifting.

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In this episode of The Last Honest Realtor, David Fleming exposes the costly cycle of builder homes hitting Toronto’s market at fantasy prices—again and again. Every new build, the same result: a sky-high listing, a string of failed agents, and a year spent chasing buyers who never come.

From the scorpion-and-frog parable to brutal, fact-driven case studies, David breaks down why builders stubbornly ignore local tastes, overvalue irrelevant features, and sabotage their own sales—all while the neighbourhood looks on in disbelief.

In This Episode:

• Why every new builder home in Toronto launches at 20% over market value—and stays there
• The critical mistakes out-of-area builders make when they ignore the local buyer
• How hiring the wrong agent costs sellers time, money, and brand reputation
• The features nobody wants: pools, basement apartments, and gaudy finishes that drive buyers away
• Why serial price drops and relistings destroy buyer trust and erode value
• What actually works: understanding neighbourhood demand, staging, and fit-for-market design
• The economics of ego: how builders talk themselves out of a deal, every single time

Timestamps:
00:00 – Intro: Why every new builder home is overpriced, every single time
01:22 – The scorpion and the builder: a parable for Toronto real estate
05:10 – Out-of-area builders: repeating the same mistakes
10:45 – What buyers actually want (and what they’ll never pay for)
19:04 – The price drop dance: relistings, terminated agents, and wasted months
25:25 – Reputation, brand, and the agent that actually gets it sold
32:15 – Closing thoughts: adapt, or stay stuck on the market

Subscribe, comment, and share this episode with anyone convinced that “their” new build is the one exception.

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In this episode of The Last Honest Realtor, David Fleming reveals how the disappearance of buyer feedback and agent follow-up is quietly reshaping Toronto real estate. In 2025, buyers have gone silent—and most listing agents are missing the signals, killing deals through inexperience, confusion, and a refusal to adapt.

From aggressive feedback calls before a showing is over, to agents clinging to 2022 tactics in a buyer-driven market, this episode breaks down the small missteps and missed conversations that now separate a successful sale from a lingering listing.

In This Episode:

• Why listing agents are chasing feedback the moment you leave a showing
• How fear and confusion are paralyzing agents on both sides of the deal
• The critical difference between patient buyers and buyers stuck in indecision
• What actually happens when agents refuse to negotiate or communicate
• The new metrics that matter: showings, inspection requests, and vanished offers
• Why outdated playbooks are costing sellers six figures in lost opportunities
• What listing agents must start doing differently—or risk irrelevance

Timestamps:
00:00 – Intro: Why the feedback loop is broken in 2025
02:10 – Agents desperate for live feedback (and what it signals)
06:15 – Real stories: missed deals, stubborn sellers, and silent buyers
12:00 – Patience vs. inaction: which buyers win?
17:30 – How poor communication turns opportunity into failure
23:10 – What metrics actually matter now (and which don’t)
28:00 – The case for direct, honest agent collaboration
32:15 – Closing thoughts: adapt or be left behind

Subscribe, comment, and share this episode with anyone still waiting for the market to “go back to normal.”

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In this episode of The Last Honest Realtor, David Fleming breaks down the listing tactics that are actively working against sellers in today’s Toronto real estate market. From irrational pricing to failed offer strategies and zero backup planning, agents and homeowners are making the same costly mistakes - over and over.

This is a slow bleed, made worse by sellers refusing to adapt and agents too afraid to push back. With inventory at a record high and sales at historic lows, this episode cuts through the noise and gets to the heart of what’s really going wrong.

In This Episode:

• How one seller walked away from a $1.095M offer—for $5,000
• Why overpricing is the first and most fatal mistake sellers make
• How outdated offer-date strategies are failing in 90% of cases
• Why most agents are complicit—or completely out of their depth
• The real absorption rate collapse behind Toronto’s stalled market
• What listing agents must start doing differently (or risk irrelevance)
• Why cooperating agents aren’t adversaries—and how ignoring them kills deals

Timestamps:
00:00 – Intro: Sellers cutting off their nose to spite their face
01:50 – A live case: losing a deal over $5K
05:15 – TRREB stats: lowest May sales since 2020, record inventory
08:40 – The overpricing problem
11:55 – When agents say yes to prices that make no sense
15:10 – Offer dates are dead—here’s why
18:35 – What a real plan A/B/C should look like
21:30 – How not working with offers kills momentum
24:00 – Feigned leverage and adversarial agents
26:30 – The cost of ignoring market data and good advice

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In this episode of The Last Honest Realtor, David Fleming sits down with special guest Ben Rabidoux—economist, housing analyst, and founder of Edge Realty Analytics—to expose the harsh truths behind Toronto’s condo market and the broader economic forces reshaping Canadian real estate.

This isn’t fear-mongering. It’s a data-backed dissection of a market facing systemic risk. From blanket appraisals and stalled closings to investor denial and government intervention, this is Canada’s “Big Short” moment—happening in real time.

If you’re a buyer, seller, developer, or policymaker: this is essential viewing.

In This Episode:

• Why Toronto’s pre-construction condo model was always destined to fail
• How banks are quietly pushing risky lending practices through blanket appraisals
• What the BoC, Carney, and tariff politics really mean for housing policy
• Why resale data hides the true structural issues in housing supply
• How investor pullback and stalled development set the stage for a crunch in 2028
• What policymakers can’t (or won’t) fix—and what that means for future buyers
• Why no one wants to admit that sentiment—not just interest rates—is the real problem

Timestamps:
00:00 – Why Ben Rabidoux is this show’s version of a celebrity
03:00 – How tariffs and political games are shaping the macroeconomic outlook
10:00 – The coming housing crunch: not “if,” but “when”
18:00 – The condo crisis and Canada’s very own Big Short
26:00 – RBC’s blanket appraisals and the risk to the banking system
34:00 – Government bailouts, false optimism, and systemic denial
44:00 – What happens when 76% of buyers can’t close?
50:00 – Predictions for 2025 and beyond

If you’ve been waiting for someone to explain what’s actually going on—without spin, slogans, or sales tactics—this is the conversation you’ve been looking for.

Subscribe, comment, and share this episode with someone who still thinks “real estate only goes up.”

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In this episode of The Last Honest Realtor, David Fleming breaks down the harsh realities behind Toronto’s bloated condo market—starting with a seller who demanded nearly double her unit’s market value.

This isn’t just one bad pricing story—it’s a portrait of a market flooded with delusion. From stale investor units and overpriced micro-condos to media hysteria and agent complacency, David maps out the structural cracks no one wants to talk about.

This isn’t a crash. It’s a slow bleed. And for serious buyers, sellers, or agents trying to navigate it—understanding the terrain is everything.

In This Episode:

• The psychology of overpricing—and why some sellers still won’t listen
• How 9,000+ active listings are hiding the real problem: dummy inventory
• Why “see it to believe it” is the new seller tactic—and why it fails
• What micro-condos tell us about the investor glut
• How paused development today creates a guaranteed supply crunch by 2028
• Why most buyers won’t catch a falling knife—and what that means for recovery
• The real cost of seller denial, weak listing agents, and misread metrics

Timestamps:
00:00 – A seller wants 2x her condo’s value—seriously
05:00 – Inventory is up, but quality is way down
12:00 – Buyers aren’t rushing in—and they’re not wrong
18:00 – The pre-construction collapse and its long-term fallout
24:00 – What’s really in that 9,000+ condo listing count?
28:00 – Why builders won’t save us in 2028
34:00 – What smart agents, buyers, and sellers should be doing now

If you’re trying to make sense of Toronto’s condo market—or if you're just tired of pretending everything's fine—this is the episode you’ve been waiting for.

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In this episode of The Last Honest Realtor, David Fleming breaks down why offer nights in 2025 are no longer a guaranteed success—and what sellers need to understand about today’s changed landscape.

David walks us through a real West End listing and its bumpy path to a sale, exposing how outdated pricing strategies, mismatched expectations, and weak agent preparation are colliding with buyer hesitation and rising holding costs.

This isn’t just a market update—it’s a field report from the front lines of Toronto real estate. From psychology to pricing to presentation, David outlines how to adapt, why homes are sitting, and what agents and sellers must do differently right now.

In This Episode:

• Why offer nights are falling flat—even in prime Toronto neighbourhoods
• How buyer psychology has shifted since 2022
• A step-by-step look at a real listing that struggled, stalled, and eventually sold
• What "relisting" really means in today’s market—and why it works
• Why agents who oversell expectations are doing their clients a disservice
• What sellers must accept if they want to succeed in 2025

Timestamps:
00:00 – Offer nights aren’t working—now what?
05:00 – A real case study: expectations vs. reality
12:00 – Buyer psychology and the rise of wait-and-see
18:00 – Interest rates, media fear, and market limbo
24:00 – Presentation matters more than ever
27:00 – What smart sellers and agents are doing right now

If you’re a Toronto seller wondering why your home didn’t sell—or a buyer watching for the next price drop—this is the episode that connects the dots.

Subscribe, comment, or share your experience in the market below. Let’s keep it honest.

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In this episode of The Last Honest Realtor, host David Fleming unpacks the April 2025 TRREB data and asks the question that’s on every seller’s mind: Why hasn’t spring sprung?

Despite record-high listings and multiple Bank of Canada rate cuts, buyer activity remains muted. David dives into the growing confidence gap between buyers and sellers, and what this standoff means for the summer and fall markets.

What starts with market stats quickly evolves into a sharp, story-driven look at buyer psychology, seller rigidity, and the misfires that happen when agents don’t set proper expectations. If you’re wondering why listings are piling up and offer nights keep falling flat, this episode delivers the data — and the diagnosis.

In This Episode:

• Why April saw record listings but near-record low sales
• How fear of overpaying is replacing fear of missing out
• What today’s buyers are thinking — and why many are stuck in limbo
• Why sellers are still pricing like it’s 2022
• How unrealistic expectations are tanking otherwise solid listings

Timestamps:
00:00 – April Stats Are In: Listings Surge, Sales Stall
05:00 – Buyer Confidence Is Gone — and It’s Not Coming Back Soon
10:00 – Offer Nights That Go Nowhere: The New Normal
14:00 – Why Sellers Refuse to Lower Prices Even When They Should
19:00 – Condo Inventory, Absorption Rates, and the Myth of “Nothing Is Selling”
25:00 – FOP greater than FOMO: The Psychology Driving the 2025 Market
31:00 – Market Shocks Ahead: Interest Rates, Immigration Caps, and Precon Defaults
37:00 – Fall Forecast: When, Why, and If Buyers Will Return

Also in This Episode:

• A cautionary tale of the $1.25M condo that relisted at $999K — same unit, different strategy
• Why switching agents without changing expectations is a recipe for failure
• What savvy agents are doing right now to actually close deals

Subscribe to The Last Honest Realtor on YouTube or your preferred podcast app. Drop a comment if you're navigating this market — or trying to make sense of it.

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In this episode of The Last Honest Realtor, host David Fleming tackles the aftermath of Canada’s 2025 federal election—and why, despite all the promises, Toronto’s housing market remains stuck in the same cycle of gridlock, speculation, and political soundbites.

What begins with a sharp story about development roadblocks turns into a no-holds-barred analysis of the post-election housing landscape. David breaks down why new legislation, tax promises, and party platforms won’t deliver affordability—and how politicians continue to mislead voters about what’s really possible in Toronto real estate.

In This Episode:

• Why the election outcome won’t change market fundamentals
• How GST and HST rebate promises misrepresent real buyer impacts
• Why political gridlock at the municipal level continues to block real solutions
• How developers, not governments, are dictating the pace of new housing
• Why every party’s housing plan was more about votes than viable policy

Timestamps:
00:00 – The Election Is Over. What Happens Now?
04:00 – The False Promise of GST and HST Housing Rebates
10:00 – Why Politicians Can’t (and Won’t) Deliver Affordable Housing
18:00 – Municipal Gridlock: The Real Barrier to New Supply
25:00 – Developers Press Pause, Governments Point Fingers
33:00 – Soundbites vs. Reality: The Future of Toronto’s Housing Market

Also in This Episode:

• David shares a real-world example of political interference in housing development
• A critical look at “Build Canada Homes” and why government-built housing is a flawed idea
• Why Toronto real estate is too big to fail—and what that means for buyers and sellers moving forward

Subscribe to The Last Honest Realtor on YouTube or your preferred podcast app. Drop a comment if you’re fed up with political promises that never materialize—or if you just want straight answers about what’s really happening in the market.

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