DCN-JOC News ServicesTORONTO – The GTA new home market rebounded in April with sales starting to return to more traditional levels, the Building Industry and Land Development Association reports.
There were 1,064 single-family home sales in April, up 81 per cent from April 2022 and 16 per cent below the 10-year average. Single-family homes include detached, linked and semi-detached houses and townhouses . Although inventory numbers have moved closer to balanced market requirements of nine to 12 months of inventory, it is too early to suggest required inventory levels have resulted in a sustained balanced market.
The benchmark price for new condominium apartments also decreased in April compared to the previous month, to $1.1 million, which was down 7.3 per cent over the last 12 months.