Greater Toronto Area, August 27, 2025 – Greater Toronto Area (GTA) new home sales remain exceedingly low, eclipsing the 1990s downturn, with July sales remaining at low levels not seen in decades, the Building Industry and Land Development Association (BILD) announced today.
There were 359 new home sales in July, which was down 48 per cent from July 2024 and 82 per cent below the 10-year average, according to Altus Group*, BILD’s official source for new home market intelligence. Historically, new home sales for a typical July in the GTA would be 1,941 units based on the previous 10-year average.
“GTA new home sales in July 2025 extended the severe slowdown the market is currently in the midst of with another record low for the month,” said Edward Jegg, Research Manager at Altus Group. “The protracted nature of this market has now surpassed the severe downturn in new home sales during the early 1990s.”
Condominium apartments, including units in low, medium, and high-rise buildings and stacked townhouses, accounted for 150 units sold in the GTA in July, down 51 per cent from July 2024 and 89 per cent below the 10-year average.
There were 209 single-family home sales in the GTA in July, down 44 per cent from July 2024 and 60 per cent below the 10-year average. Single-family homes include detached, linked, and semi-detached houses and townhouses (excluding stacked townhouses).
New for 2025, BILD and Altus Group are now reporting on sales in Simcoe County. In July, there was one condominium sale and 28 single-family new home sales, with the weighted average price of single-family new homes at $1,114,077.
Total new home remaining inventory in the GTA increased slightly compared to the previous month, to 22,654 units. This includes 16,670 condominium apartment units and 5,984 single-family dwellings. This represents a combined inventory level of 20 months, based on average sales for the last 12 months – which is the highest inventory level seen to date.
“What more evidence is needed to demonstrate that we need concerted action to address the crisis that is stalling out new supply and compounding the challenges in the GTA housing market?” said Justin Sherwood, Senior Vice President of Communications, Research, and Stakeholder Relations at BILD. “Emerging from the 1990s downturn took years, with prolonged negative economic impacts and unemployment in the sector. The market, leaders within the industry and top economists are flashing every possible warning light, and the lesson from the 1990s downturn is clear: if government stands by, the pain will be deep and prolonged. To avoid repeating history, government intervention is not optional – it is urgently due.”
The benchmark price for new condominium apartments in July in the GTA was $1,029,527, which shows no material change over the last 12 months. The benchmark price for new single-family homes was $1,488,940, which was down 6.1 per cent over the last 12 months.
With more than 1,000 member companies, BILD is the voice of the home building, residential and non-residential land development and professional renovation industries in the Greater Toronto Area. The building and renovation industry provides 256,000 jobs in the region and $39.3 billion in investment value. BILD is affiliated with the Ontario and Canadian Home Builders’ Associations.
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For additional information or to schedule an interview, contact Janis McCulloch at jmcculloch@bildgta.ca (416-617-7994)
*Altus Group should be credited as BILD’s official source of new home market intelligence.
