Newly-built condos in the Greater Toronto Area continued to be a difficult sell in September, with a 44 per cent drop in sales compared to the same month a year ago.

A report released by the Building Industry and Land Development Association (BILD) on Tuesday showed just 155 new condos were sold.

In the City of Toronto, only 53 new properties had a buyer.

“The trend that we saw in September really has been a trend we’ve been seeing over the last couple years, where we have been seeing sales both from a condominium apartment point of view, but also from a single-family perspective, trending downward,” said Dave Wilkes, president and CEO of BILD.

“It is a very serious problem, it is a problem that will result in a lack of housing supply in the next two to three years as sales don’t tur

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