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This is misinformation. The supply of resale condos in the central core currently sits at 900 units. This is lower than last year at this time. It is the second lowest number on record for this time of year. It represents a chronic undersupply. New condo sales are down because there are so few new projects launching. Those that do launch are oversubscribed 10 to 1. There is a huge appetite to buy new units but with little to buy. Prices are rising because of low supply in the central Toronto. This article is nonsense.
Toronto New Condo Sales Drop 66%, While Prices Soar 40% In Weirdest Correction Ever | Huffington Post