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Story summary
- New home sales in Toronto hit a 45-year low in 2025, totaling only 5,300 units.
- Experts attribute the decline to high prices and geopolitical concerns, threatening up to 100,000 jobs in Ontario's construction sector.
- Experts call for government intervention, including eliminating the Harmonized Sales Tax (HST) on new homes, to stimulate the market.
- Average prices are $1.02 million for new condos and $1.4 million for single-family homes.
