media

News Releases

201620152014201320122011201020092008200720062005

Low-rise sales continue to slide

Greater Toronto, May 24, 2013 - Consumer confidence in the GTA's new homes market is still low as sales amounted to the third-worst April on record, the Building Industry and Land Development Association (BILD) announced today.

According to RealNet Canada Inc., BILD's official source for new home market intelligence, there were 987 new single, semi-detached and townhomes sold in the GTA in April, the lowest ever recorded for that month.

Year-to-date sales painted a similar picture with the total number of homes sold combining for the second-lowest on record and 30 per cent below the long-term average.

"Affordability is still a major challenge for the industry and new home buyers, particularly in the low-rise sector," said BILD President and CEO Bryan Tuckey. "We need to inspire consumer confidence in the market through the construction of quality, affordable communities in the GTA."

Sales in the high-rise sector were close to the long-term average. The numbers indicate some signs of consumer confidence as 38 per cent of new openings in April were sold within the first month. This illustrates some improvement over the year's first quarter new openings sales of 20 per cent.

The RealNet New Home Price Index showed a 6 per cent increase in the low-rise sector over April 2012, bringing the price to $627,933. Pricing for high-rise homes remained relatively unchanged at $433,132.

A statistical backgrounder and a video analysis of are available for download. For additional information, contact Amy Lazar or Andrei Zaretski.

April '13

Low Rise

High Rise

Total

Region

2011

2012

2013

2011

2012

2013

2011

2012

2013

Durham

302

272

150

3

7

3

305

279

153

Halton

136

170

71

189

148

220

325

318

291

Peel

630

717

403

79

328

128

709

1,045

531

Toronto

108

62

60

2,515

2,305

1,343

2,623

2,367

1,403

York

751

585

303

542

472

162

1,293

1,057

465

GTA

1,927

1,806

987

3,328

3,260

1,856

5,255

5,066

2,843

Jan-April

8,764

7,151

4,762

6,035

6,397

3,660

14,799

13,548

8,422

Source: RealNet Canada Inc.

With more than 1,400 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.

-30-