News Releases

New home sales off to solid start

Greater Toronto, Feb. 24, 2010 - The 2,162 new homes and condominiums sold in the Greater Toronto Area in January 2010 represent the continuation of the positive trend in new home sales established in the second half of 2009, and a solid start to the new year, the Building Industry & Land Development Association (BILD) said today.

Compared to the absolute bottom of the market at the height of the global economic crisis in January 2009, total new home sales are up a stunning 237 per cent. However, such comparisons are grossly misleading, says the Association. Comparing with prior years, January sales are up 11 per cent over January 2008 (1,942 sales) and 17 per cent over January 2007 (1,836 sales).

"The market is reasonably healthy but certainly not frothy," said BILD President and CEO Stephen Dupuis. "In the face of constant government regulation and taxation, the industry is doing its best to maintain market momentum by offering tremendous value in both the high- and low-rise sectors."

Total new home sales in January were split 53 per cent low-rise (single-detached, semi-detached and townhomes) and 47 per cent high-rise condominium suites.

With more than 1,300 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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