Toronto, Sept. 23, 2025 (GLOBE NEWSWIRE) — Greater Toronto Area, September 23, 2025 – With Greater Toronto Area (GTA) new home sales stagnating at historic lows, other major markets facing similar conditions, and signs of the contagion spreading, governments can no longer ignore the unfolding crisis, the Building Industry and Land Development Association (BILD) said today.
There were 300 new home sales in August, which was down 42 per cent from August 2024 and 81 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 August in the GTA would be 1,595 units based on the previous 10-year average.
“GTA new home sales in August 2025 remained at rock bottom levels. New launches, in particular high-rise projects, over the past 12 months have been at a record low and at the same time, completions have reached a record high,” said Edward Jegg, Research Manager at Altus Group. “As further projects reach completion, new home tradespeople are becoming increasingly at risk of not being able to find employment and therefore joining the growing number of Canadians without work, putting additional strain on the economy.”
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