Sales of condominiums in the Greater Toronto Area (GTA) last month were the lowest they’ve been in July in 23 years, according to the Building Industry and Land Development Association (BILD).
The association says rising interest rates have left prospective buyers cautious, as a shortage of supply continues to negatively impact affordability across the market.
Single-family home sales in July rebounded from last year, and were up a massive 281 per cent, but were still 51 per cent below the 10 year average, BILD says. “The short burst of home-buying activity clearly underscored the resilience of the housing market, but the lack of inventory available for sale curtailed any real momentum from building.”
“With slowing sales and rising inventory, benchmark prices softened,” the association said in the release.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Affordability continues to deteriorate’: GTA condo sales hit 23-year low in July: building associationSales of condominiums in the Greater Toronto Area (GTA) last month were the lowest they’ve been in July in 23 years, according to the Building Industry and Land Development Association (BILD).
Read more »
‘Affordability continues to deteriorate’: GTA condo sales hit 23-year low in July, building association saysSales of condominiums in the Greater Toronto Area (GTA) last month were the lowest they’ve been in July in 23 years, according to the Building Industry and Land Development Association (BILD).
Read more »
Statistics Canada reports retail sales up 0.1% in June at $65.9 billionOTTAWA — Statistics Canada says retail sales rose 0.1 per cent to $65.9 billion in June, lifted by sales at new car dealers. The agency says core retail sales — which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers — fell 0.9 per cent in June. Retail sales rose in three of the nine subsectors, led by a 2.5 per cent gain at motor vehicle and parts dealers as sales at new car dealers added 2.9 per cent. Sales at gasoline stations and fuel vendors rose 0.3 per cent, l
Read more »
Gold prices unchanged on the day as U.S. existing home sales drop 2.2% in July(Kitco News) - After giving up all of its overnight gains, the gold market continues to tread water at lower; it is not attracting any safe-haven flows following disappointing U.S. housing sales data.
Read more »
Canada retail sales rose 0.4% in July and beat June estimateCanadian retail sales rose by more than expected in June, with data also pointing to a rebound in activity in July.
Read more »
Canada Retail Sales Rose 0.4% in July and Beat June Estimate(Bloomberg) -- Canadian retail sales rose by more than expected in June, with data also pointing to a rebound in activity in July. Most Read from BloombergHuawei Is Building a Secret Network for Chips, Trade Group WarnsGoldman Is Cracking Down on Employees That Aren't in Office Five Days a WeekMusk Told Pentagon He Spoke to Putin Directly, New Yorker SaysIndia First to Land Near Moon South Pole After Russia FailsBonds Rally on Weak Data as US Jobs Revisions Loom: Markets WrapReceipts for retaile
Read more »