The weakness suggests the rosy picture for real estate that emerged over the past few months may be overstated in a city that UBS Group AG says is among the world’s most vulnerable to a “sharp correction.”
The ratio of sales to new listings for condos in downtown Toronto fell to 24 per cent in September, the lowest level since the early 1990s, Hildebrand said. Rental units are sitting longer on the market — 26 days in August, compared with 14 a year earlier — and the sales-to-new listings ratio for downtown condos has been below 40 per cent, the threshold between a balanced and a buyer’s market, for the past several months, Hildebrand said.
I know where I would want to move during a pandemic, in a tall enclosed space where I need to get into another confined space and wait so I can actually get in and out safely? Say it isn't so? What not enough foreign investors or money laundering to pick up the slack anymore.