After years of soaring prices and new builds, Metro Vancouver's condo market is showing signs of strain with projects stalling, sales declining, and developers hitting pause.

Industry experts say it's the result of a "perfect storm" of four major forces converging: high interest rates and softening rental income, reduced foreign capital and lower immigration — all of which have created a challenging environment for both buyers and builders.

"[We] are at a breaking point, the industry is doing ter…