GTA New Home Sales Jump 32% YoY In June, But Inventory Is Catching Up
New home sales in the Greater Toronto Area (GTA) spiked in June compared to the same time last year, and yet, were still significantly below the 10-year average for the region.
New data from the Building Industry and Land Development Association (BILD) and Altus Group revealed a total of 2,526 new home sales in June, up 32% from June 2022 but 30% below the 10-year average.
The most affordable market segment — condominium apartments — dominated sales, accounting for 1,957 of June’s transactions, up 11% from June 2022 and down a smaller 21% from the 10-year average.
Even still, single-family home sales saw a much more staggering 256% increase from June 2022 with a total of 569 sales last month. This, however, was still down 49% from the 10-year average.
LEARN MORE: https://storeys.com/new-home-sales-june-2023-inventory-prices/
