The Building Industry and Land Development Association announced on Monday that the Greater Toronto Area new home market experienced declining prices in June, while sales fell well below the ten-year average.
Condos, stacked townhomes, and lofts represented the majority of these sales, accounting for over 1,950 units. Similarly, a generous year-over-year increase of 11 per cent was overshadowed by a 21 per cent dip below the ten-year average. A decline in sales — at least using long-term metrics — coupled with a spike in inventory has had what BILD describes as"a softening impact on prices."
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