Part 9/18:
Additionally, the new construction sector has nearly halted. New condo sales in Toronto fell to historic lows, roughly 90% below averages over the past decade. This slowdown impacts future listings and reduces the pipeline of new projects, further constraining supply and limiting future opportunities for agents and developers alike. Developers grappling with slow absorption rates and tightened financing have delayed or canceled new launches, heightening market uncertainty.
Market sentiment remains fragile. Small upticks in sales or tightening of listings are often offset by increased fears of further declines due to price cuts and economic anxieties. Both buyers and sellers are navigating a landscape riddled with unpredictability, with no clear pathway to stability.