Single-family Homes Lead New Construction
The recovery of Toronto’s new construction home industry is being led by single-family homes, says the Building Industry and Land Development Association (BILD). Year-over-year sales soared 187 per cent last month – the best July performance for detached, semi-detached, and town homes since 2009. Although condo sales remained four per cent below July 2019, that was a substantial improvement from June, and still 19 per cent above the 10-year average. The number of new condos sold this year to date is down 28 per cent, while single-family home sales have risen 51 per cent.