May Was The Second Lowest Month For New GTA Home Sales Since 1990

Data released by the Building Industry and Land Development today shows that new home sales in the GTA continued to slow in the last month, nearly reaching May 2020 pandemic levels, the single lowest month on record.by the Building Industry and Land Development today shows that new home sales in the GTA continued to slow in the last month, nearly reaching May 2020 pandemic levels.

In addition, new home remaining inventory stays “exceedingly high,” with an increase to 20,427 units, representing a combined inventory level of 14.5 months, based on average sales for the last 12 months. In the media release, Sherwood calls on governments to take action to boost our troubled housing market. “To avoid future lack of supply driven price appreciation, we need all parties, all levels of government, CMHC and the industry to sit down and arrive at collaborative solutions that will support those seeking to call the GTA home.

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GTA home sales fall in May, but Bank of Canada decision could spur demandReal estate market analysts say the Bank of Canada's much anticipated decision to lower its key interest rate could be the sign that many would-be homebuyers have been waiting for to make their move.
Source: CP24 - 🏆 30. / 67 Read more »