(Source: National Post

Despite a record number of construction cranes gracing the horizon, Toronto’s once thriving new condo market hit a dismal sales low in the first quarter of 2009, according to an industry analysis revealed today.

Urbanation Inc., which researches the development industry, reported that the number of sales recorded during the first quarter dipped to 917 units – the lowest level since 1996 and a far cry from the high of nearly 7,000 units sold in the second quarter of 2007, the peak.

Read Allison Hanes’ full article “The state of Toronto’s condo market: Lots of cranes, few sales” in The National Post (May 11, 2009).

 

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