Toronto New Home Sales Were The Weakest Since The 1990 Real Estate Crash
Greater Toronto real estate’s bad year ended even worse. Altus Group data showed Greater Toronto Area (GTA) developers saw demand slip further in December, as new home buyer incentives failed to stimulate new demand. As a result, the market accumulated the most year-end inventory in nearly a decade—nearly 2.5x the amount available in 2021’s tight market, but that isn’t the banger. Last year the market saw the fewest new home sales since 1990, when Toronto’s last real estate bubble popped.
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