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- There are myriad reasons for this state of affairs. Higher interest rates have made it difficult for some buyers to close on their mortgage and investors, many of whom are losing money on their rentals, are listing more properties. A recent wave of condo completions is also adding to supply. To add to these problems, the job market is weakening.
People also ask
Are new condo sales slowing down in Toronto?
Why are condo prices falling in Toronto?
Why are Toronto's condo investors not buying into new projects?
Why did Toronto's new condo sales fall in the first quarter?
Aug 15, 2024 · Real estate markets will feel the downstream effects from a slowdown in Toronto’s condo market, according to one real estate expert who expects fewer completions of new units over the next few years.
- Toronto condo investors hit by market at ‘recessionary’ level
The Toronto condo market is deteriorating to “recessionary...
- Toronto condo investors hit by market at ‘recessionary’ level
Sep 9, 2024 · If condo prices suffer another mid-to-high single-digit decline between now and early next year as TD forecasts, it will be the longest pullback since 2000. It would also be the steepest price plunge in over 20 years, possibly larger than the decline during the global financial crisis.
Jul 25, 2024 · The Toronto condo market is deteriorating to “recessionary territory” as the number of investors losing money each month on newly built units surged last year.
Jun 25, 2024 · There’s a record number of Toronto condominiums on the market right now, and despite record immigration, and an ever-worsening housing crisis, nobody seems to want to buy them. Diana Zlomislic...
Jul 19, 2024 · New condominium sales in the Greater Toronto and Hamilton Area have slowed to levels not seen in 27 years, according to a new report by real estate market research firm Urbanation.
May 4, 2023 · Condo sales in the City of Toronto slowed to a trickle to end 2022, but the market showed signs of bouncing back in the first quarter of 2023, data from the Toronto Regional Real Estate Board showed. Now the question is whether that recovery has legs.
Apr 23, 2024 · Sales of new condos in Toronto plunged in the first quarter of 2024 as a rising inventory of unsold units and soaring construction costs put a damper on the once booming market.
