The housing market in the GTA is at an all\u002Dtime low and more than one million homes are needed, according to a new report.
A report by the Building Industry and Land Development Association says only 97 single-family homes sold in July.From our newsroom to your inbox at noon, the latest headlines, stories, opinion and photos from the Toronto Sun.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
“In contrast, new single-family sales posted a record low in the face of slowing demand and a shortage of inventory.”Article contentAccording to the report, new housing inventory dropped from the previous month to 10,848. The demand for new will remain in the GTA with 1.5 million new homes that will be needed on the market.
“As BILD has said all along, the long-term demand for new homes is not going anywhere, despite short-term market trends,” said Dave Wilkes, BILD president and CEO.
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