Sales of new GTA homes and condos continue to slide. Only 384 new single-family homes sold in the GTA in March. But builders worry they’re not ready for rising long-term demand.
Sales of new GTA homes and condos continued to fall year-over-year in March, according to new numbers released Monday by the Building Industry and Land Development Association .
“In March, the pause that we had been seeing in new home sales continued, sales were down significantly from a year ago, inventory has remained tight,” Wilkes added. Altus Group, BILD’s source for market analysis, also found in the new report that the total new home inventory in March was 14,479 units, down slightly from February, but up from last year’s all-time low in March. This includes 12,887 condos and 1,592 single-family units, or about 10 months and six months of inventory, respectively.
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