June 30, 2023
According to Altus Group, BILD’s official source for new home market intelligence, there were 3,109 new home sales in May, which was up 22 per cent from May 2022 and 10 per cent below the 10-year average.Condominium apartments, including units in low, medium and highrise buildings, stacked townhouses and loft units, accounted for 1,976 units sold in May, down three per cent from May 2022 and 14 per cent below the 10-year average.
May’s total new home remaining inventory, which includes units in preconstruction projects, in projects currently under construction and in completed buildings, was 15,346 units. The benchmark price for new condominium apartments was $1,097,747, which was down 6.7 per cent over the last 12 months.
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