Toronto-area new home sales ‘frozen’ with condo deals falling 91 per cent below the 10-year average
The Toronto-area new homes market was “practically frozen with inaction” as sales remained low in October, with the condo sector particularly “hard hit.”
But conditions are finally right for a comeback, according to a data researcher for the building industry.
Condo apartments, which include low, medium, highrise buildings, as well as condo townhouses and lofts, accounted for 210 units sold in October — down a staggering 84 per cent from October 2023 and 91 per cent bellow the 10-year average, according to the Building Industry and Land Development Association’s (BILD) Friday report.
