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Toronto New Home Sales Plunge as Buyers Reach Price Limit

  • Sales of new homes fell to lowest in almost two decades
  • Record supply of new condos set to hit market as demand wanes
Toronto Benchmark Home Prices Up 5% In April From March
Photographer: Cole Burston/Bloomberg
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New home buyers finally reached their limit in Toronto last year.

After years of frenzied price increases, sales of new homes in Canada’s biggest city sunk to the lowest in almost two decades in 2018 and the supply of unsold condos piled up, according to a pair of new reports released Friday.