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GTA New Home Market Returning to 'More Traditional Levels'

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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

“GTA homebuyers returned to the market driving new home sales higher,” said Edward Jegg, Research Manager with Altus Group. “The fundamentals had pointed to a rebound in April and that strength is expected to continue through the spring market.”

Single-family home sales, on the other hand, saw an 81% jump compared to the same time last year, totalling 1,064, which is just 16% below the 10-year average. “Although inventory numbers have moved closer to balanced market requirements of 9-12 months of inventory, it is too early to suggest required inventory levels have resulted in a sustained balanced market,” the BILD report reads.

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