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.
"Housing starts are the housing supply of tomorrow and the longer that sales remain low the more it is anticipated that available housing supply in the 2027-2029 time period will suffer," says BILD.
With sales low, remaining inventory increased slightly from 21,871 units in September to 22,299 units, comprising 17,682 condo units and 4,617 single-family dwellings, and representing a combined inventory level of 14.4 months. Justin Sherwood, SVP of Communications and Research & Stakeholder Relations at BILD, points to high building costs as the source of the ongoing low sales trend.
Finally, on the topic of home prices, BILD reports that Benchmark prices continued to trend downwards, with the average price for new condo units at $1,006,256, down from $1,025,111 in September and down 1.6% over the last 12 months. The benchmark price for new single-family homes was $1,549,416, down from $1,565,116 in September and down by 4.9% over the last 12 months.
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