The resiliency of the Greater Toronto Area (GTA) housing market continued in February, as new home sales were strong last month after more than 3,200 units were sold.
Sales of new single-family homes — including detached, linked, and semi-detached houses and townhouses (excluding stacked townhouses) — accounted for 1,617 units sold, down 30% from last February but still 20% above the 10-year average.
When looking at the condo market, condominium apartments, including units in low, medium and high-rise buildings, stacked townhouses and loft units, accounted for 1,623 new home sales in February, down 38% from February 2020 and even with the 10-year average.
With additional new supply on the horizon, the spring market will likely yield its usual increase in activity. The demand for new homes in the GTA continues strong. We all need to work together to ensure we can deliver homes to the GTA families that are waiting for them.
Reference: https://cutt.ly/ex9RWt7
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