New home market in GTA rebounded in April, starts return to normal levels - constructconnect.com - Daily Commercial News

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.

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GTA New Home Market Returning to 'More Traditional Levels'New data from BILD and Altus Group reveals that April's new home sales in the GTA nearly doubled from the number seen in March, pointing to a rebound that's expected to continue through the spring market. bildgta | altusgroup | realestatenews
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