GTA June Home Sales Active

The Greater Toronto, ON, Area (GTA) new home market had another active month in June, bringing the total number of new home sales in the first six months of the year to 25 per cent above the 10-year average, says the Building Industry and Land Development Association (BILD). The total new home units sold through the first six months of 2021 was 24,060, with total June new home sales at 3,860 units sold, four per cent above the 10-year average. Condominium apartments, including units in low-, medium-, and high-rise buildings, stacked townhouses, and loft units, accounted for 2,775 new home sales in June, which was 13 per cent above the 10-year average. Sales of new single-family homes, including detached, linked, and semi-detached houses and townhouses (excluding stacked townhouses), with 1,085 units sold in June, were 14 per cent below the 10-year average. “The demand for new homes remains impressive, in particular given the challenges homebuyers have faced in the past year,” says Edward Jegg, analytics team leader, data solutions, Altus Group. “New product brought to the market has not kept pace with sales and, as a result, relatively low inventories of product available to purchase continue to exert pressure on prices.”