February Greater Toronto Area New Home Market Quiet

The Greater Toronto, ON, new home market was quiet in February, with 922 sales registering a 76 per cent decrease over sales in February 2022, say the Building Industry and Land Development Association (BILD). This figure was 69 per cent below the 10-year average and the second lowest number of new homes sold in February since tracking began in 2000. Sales for single-family homes, including detached, linked, and semi-detached houses and townhouses (excluding stacked townhouses), were down 65 per cent year over year; 81 per cent below the 10-year average. Sales for condominium apartments, including units in low-, medium-, and high-rise buildings, stacked townhouses, and loft units, were down 78 per cent year over year and 61 per cent below the 10-year average.