February saw a large jump in sales of new single-family homes in the Greater Toronto Area, but a decrease in sales of new condominiums, a new study from a builders’ organization has found. According to a report from the Building Industry and Land Development Association (BILD), 639 new single-family homes were sold in February, an increase of 147 per cent from last year. This is the highest number of homes sold since April 2017, BILD said. A new report from BILD says condo sales are down 58 per cent from last year. This could be attributed to the explosion of market prices in recent years, which “has priced many would-be buyers out of the market,” says Altus Group’s Patricia Arsenault.

Source: thestar March 26, 2019 09:00 UTC