New Home Sales in Toronto Hit New Record-Low in July: Building Association

Published on August 28, 2024

Sales of new homes in the Greater Toronto Area (GTA) hit a new low in July, breaking the previous record set just two months earlier, a building association says. In July, just over 650 new homes were sold, marking a 48 percent drop from July 2023 and a 70 percent decrease from the 10-year average, the Building Industry and Land Development Association (BILD) said in a release on Aug. 28. “GTA new homes sales in July 2024 sank to another record monthly low as buyers remained unwilling to leave the sidelines,” Edward Jegg, research manager at Altus Group, BILD’s source for new home market data, said in the release....

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