The GTA new home market was quiet in August, with overall sales and inventory levels well below the 10-year average,bildgta has announced.
September 27, 2022
Sales of new condominium apartments, including units in low, medium and highrise buildings, stacked townhouses and loft units, with 533 units sold, were down 83 per cent from August 2021 and 61 per cent below the 10-year average, according to Altus Group, BILD’s official source for new home market intelligence.
“New home sales for August slowed in both the condominium apartment and single-family sectors as buyers and builders are in a wait-and-see mode amid the swirling economic uncertainty,” said Edward Jegg, research manager at Altus Group, in a statement. “However, buyers have been able to find product to purchase as builders continue to replenish the inventory pipeline.”
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