Teagan has covered Toronto, GTA, and Ontario cottage country real estate. Before coming to STOREYS as a staff writer, she was a freelance writer for Toronto Life and Cottage Life.
“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 BILD rep Justin Sherwood.“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.
Despite historically low sales, new home remaining inventory dipped slightly in August, going from 21,660 units in July to 21,296 units. This includes 17,233 condominium apartment units and 4,063 single-family dwellings, representing a high inventory level of 14.5 months. However, BILD notes that this high inventory level isn't indicative of a boom in new build releases, but rather the result of extremely low sales.
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