The sales momentum seen in May for new-build homes across the GTA has been threatened by the, according to a report from the Building Industry and Land Development Association.
May numbers showed the first year-over-year increase in new home sales in more than a year, at 3,109, up 22 per cent from last May, but still 10 per cent below the 10-year average. That includes 1,133 single-family home sales, up 123 per cent from last May and three per cent below the 10-year average.
The total new home inventory for May — including completed buildings, pre-construction and under construction — was 15,346 units, about 13 months worth.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: