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Healthy first half for new home sales
Toronto, July 23, 2008 - There were 3,544 new homes and condominiums sold across the Greater Toronto Area in June, 2008, bringing total new home sales for the first half of 2008 up to 17,094 units, Michael Moldenhauer, President of the Building Industry & Land Development Association (BILD), revealed today.
While new home sales in June were very much in line with average June sales over the last five years, they couldn't withstand comparisons with June, 2007, which set the all-time record for monthly new home sales. Similarly, total new home sales through the first half of 2008 have fallen shy of the breakneck pace of 2007, which was the second-best year ever.
"Setting aside comparisons with last June or last year, the more than 3,500 units sold in June represents a very healthy level of activity," Moldenhauer noted. "We're on pace to sell up to 35,000 new homes and condos this year, boosting the regional and provincial economy when so many other sectors are lagging," he added.
Moldenhauer added that sales of high-rise condominium suites accounted for a remarkable 59 per cent of total new home sales.
|
June |
Low Rise
|
% Change
|
High Rise
|
% Change
|
Total
|
% Change
|
|||
|
Region |
2007 |
2008 |
2007 |
2008 |
2007 |
2008 |
|||
|
Durham |
310 |
260 |
-16.1% |
33 |
18 |
-45.5% |
343 |
278 |
-19.0% |
|
Halton |
421 |
289 |
-31.4% |
23 |
33 |
43.5% |
444 |
322 |
-27.5% |
|
Peel |
487 |
263 |
-46.0% |
237 |
310 |
30.8% |
724 |
573 |
-20.9% |
|
Toronto |
75 |
108 |
44.0% |
3,162 |
1,493 |
-52.8% |
3,237 |
1,601 |
-50.5% |
|
York |
777 |
532 |
-31.5% |
138 |
238 |
72.5% |
915 |
770 |
-15.8% |
|
GTA |
2,070 |
1,452 |
-29.9% |
3,593 |
2,092 |
-41.8% |
5,663 |
3,544 |
-37.4% |
|
Jan-Jun |
11,992 |
8,834 |
-26.3% |
11,059 |
8,260 |
-25.3% |
23,051 |
17,094 |
-25.8% |
Source: RealNet Canada Inc.
With more than 1,500 members, BILD, formed through the merger of the Greater Toronto Home Builders' Association and Urban Development Institute/Ontario is the voice of the land development, home building and professional renovation industry in the Greater Toronto Area. BILD is proudly affiliated with the Ontario and Canadian Home Builders' Associations.
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