GTA Reaches New “Historical Low” With Fewer Than 500 New Home Sales In August
After an “all time low” month for GTA new home sales in July, sales fell to new depths in August, posting a mere 464 transactions — a new”historical low,” according to the Building Industry and Land Development Association (BILD).
“August’s new home sales data paints a stark picture of a housing market that is struggling with deep structural issues that have made the cost to build too high,” says Justin Sherwood, SVP Communications & Stakeholder Relations at BILD. “A key component of those costs are the excessively high government taxes and fees, which add, on average, $355,000 to the cost of an average single family new home in the GTA.”
Read More: https://storeys.com/historically-low-gta-home-sales-bild/
