There are two ways of interpreting the continuing decline of new condo sales — a trend that somehow achieved uncharted lows, according to information on second-quarter activity released earlier this week by Urbanation.
The firm, which tracks the Greater Toronto and Hamilton Area (GTHA) housing market, reported that just 1,688 condos sold between April and June, a 66 per cent decline from the same period in 2023, marking the lowest sales rate in a generation (except for the first few months of the pandemic) — and all this despite overwhelming evidence of a housing affordability crisis.
