"unsold presale condominium units""unsold units in pre-sale inventory"Aren't all presale units unsold by definition? If not, what is a "sold presale condominium unit"?

Here's an article in today's province about the same story."Consumers have to have a higher income to be able to afford the average product and we very quickly have a diminishing pool of potential buyers."The supply of pre-sale condo units in new developments jumped by more than 55 per cent from 2,780 units in January, 2006 to 4,350 units at the end of December 2006, Hennigar said. In the high-rise category alone, unsold units in pre-sale inventory jumped almost 75 per cent between December 2005 and December 2006.

"“In the highest growth markets, there were a lot of folks who panicked when they saw prices going up by 8, 10 or 12% a year and rushed to buy in,” says Kermit Baker, a senior research fellow at Harvard University’s Joint Center for Housing Studies. “Once prices started to fall [in high growth markets], speculators got an itchy trigger finger because prices went up so high that it was very difficult to buy; affordability had gotten out of hand and people worried that if they waited six to eight months to sell, they’d be left holding the bag. The result is a short-term adjustment.”Steadier, more tempered growth translates into a stable real estate conditions because affordability remains in line with local economic conditions." Full Article

That's what I would want to believe if I "invested" in a Condo.