Toronto, April 24, 2025 (GLOBE NEWSWIRE) — Greater Toronto Area, April 24, 2025 – Greater Toronto Area (GTA) new home sales remained extremely low in March, showing little change from earlier months and marking a sixth consecutive month of record all-time lows, the Building Industry and Land Development Association (BILD) announced today. With year-over-year housing starts in the GTA down over 50 per cent, governments must urgently and rapidly take action.
There were 385 new home sales in March which was down 68 per cent from March 2024 and 87 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 March in the GTA would be 3,311 units based on the previous 10-year average.
“March 2025 new home sales across the GTA reached another low for the month,” said Edward Jegg, Research Manager at Altus Group. “Housing prices have stabilized, which is a reflection of the current cost to build and they are likely reaching their low point. This, combined with economic uncertainty, driven largely by tariff concerns, is keeping buyers on the sidelines.”
Condominium apartments, including units in low, medium and high-rise buildings, accounted for 160 units sold in the GTA in March, down 75 per cent from March …