Canada's real estate market shows renewed momentum with lower interest rates easing mortgage affordability, sparking buyer activity, especially among first-time and move-up buyers. However, housing supply remains critically constrained, with a need for 3.5 million new homes by 2030. The Greater Toronto Area market varies by segment, with competitive activity in detached homes and challenges in pre-construction condos. Policy uncertainty due to the federal election persists, but zoning reforms and mixed-use projects offer opportunities for developers amid ongoing demand.
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