Toronto, June 24, 2025 (GLOBE NEWSWIRE) — Greater Toronto Area, June 24, 2025 – Greater Toronto Area (GTA) new home sales remained at historic lows in May. Little change was seen from earlier months and May marked the eighth consecutive month of record all-time lows, extending the worst downturn of new home sales in the region on record, the Building Industry and Land Development Association (BILD) announced today.
There were 345 new home sales in May, which was down 64 per cent from May 2024 and 87 per cent below the 10-year average, according to Altus Group*, BILD’s official source for new home market intelligence. New home sales for a typical May in the GTA would be 2,749 units based on the previous 10-year average.
“May 2025 new home sales across the GTA remained at rock bottom levels,” said Edward Jegg, Research Manager at Altus Group. “Market conditions definitely are in the buyer’s favour right now; they just need the confidence to move ahead with their purchase.”
Condominium apartments, including units in low, medium and high-rise buildings, accounted for 137 units sold in the GTA in May, down 74 per cent from May 2024 and 93 per cent below the 10-year average.
There …