Toronto's pre-construction condo market is finally bottoming out after over a decade and a half of frenzied construction that has reshaped the city's skyline while also contributing to a runaway increase in housing costs. The report released on Tuesday, titled "Navigating Toronto's frozen pre-construction condo market," outlines the steep decline in sales in pre-construction developments, a nosedive characterized as a "deep freeze" of "plummeting" sales at levels "not seen since the global financial crisis." It may seem like they're stating the obvious at this point, but experts are pointing to the reality of investor demand driving the local pre-construction condo market as a reason for the drop-off. Such a road would involve balancing out the current condo inventory to levels where pre-construction condo sales become a more attractive option. According to RBC's analysis, "the complexity of multiple factors makes timing Toronto's new condo market recovery very challenging."