According to a recent report from ScotiaBank, the shortage of single-family homes for sale across Toronto is likely to to drive the resale of the condominium market for first-time buyers. The lack of listings, not the demand, has been holding back home sales and in turn pushing up prices in Toronto. Moderate price gains are being seen in the resale condo market, although new supply of units may temper such increases. An estimated range of 16,000 to 20,000 new units will be completed by the end of 2014.
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