New home sales in the Greater Toronto Area (GTA) ended the year on a slow note, with 554 homes sold in December, a 67% decline from November. Sales increased by only 0.5% compared to December 2022, but still remain 67% below the 10-year average. High interest rates have kept buyers and builders away, leading to a lack of confidence in the market.
New home sales in the Greater Toronto Area ( GTA ) ended the year on a slow note, with 554 homes sold in December, a 67% decline from November. Sales increased by only 0.5% compared to December 2022, but still remain 67% below the 10-year average.
High interest rates have kept buyers and builders away, leading to a lack of confidence in the market.
New Home Sales Greater Toronto Area GTA Sluggish High Interest Rates Decline Builders Confidence
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