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Toronto’s condo market is likely to recover “slowly,” a new report by Urbanation shows, after it saw new sales hit a 35-year low even as buyers are starting to come back from the sidelines. The report, released Thursday, showed that in the first quarter of 2026, just 246 new condos were sold in the Greater Toronto Hamilton Area, a 52-per cent drop compared to a year prior.In addition, the report showed there were no new launches of condo products during the quarter for the first time in at least 30 years.“With market confidence still very fragile and demand fundamentals slowing…

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