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New home sales in Toronto plunge to 35-year low

Builders call on prime minister to expand tax breaks to incentivize homebuyers
New home sales in Toronto hit levels not seen since 1990. (Getty Images)
New home sales in Toronto hit levels not seen since 1990. (Getty Images)
CoStar News
May 29, 2025 | 4:35 P.M.

New home sales in Canada's largest city reached a low not seen since 1990, prompting Toronto area homebuilders to call on the federal government to expand tax exemptions for purchases.

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