New home sales in the GTA hit a low last year, nearly 30% below the ten-year average. bildgta | realestate realestatenews GTA housing housingmarket
The climate of erratic prices and soaring interest rates that beset the Greater Toronto Area housing market in 2022 resulted in the lowest level of new home sales the region has seen in four years., just 25,400 new homes were sold across the GTA last year, the lowest level since 2018. The figure, courtesy of data from Altus Group, is 29% below the 10-year average.
With 20,917 units sold in 2022, sales of condominium apartments — units in low, medium, and high-rise buildings, stacked townhouses, and loft units — were 12% below the 10-year average. After four and five months of decline, respectively, the benchmark price for new single-family homes and new condominium apartments rose month-over-month in December. Ending the year at $1,753,356, single-family home prices were down 4.2% annually, while condo apartments, at $1,131,614, were down 2.8% from a year ago.
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.
Blue Jays sign nine international free agents, eight from Venezuela, one from BrazilTORONTO — The Toronto Blue Jays agreed to terms with nine international free agents on Monday.
Read more »
Nobody is buying Toronto homes anymore as demand drops to lowest level in yearsThe Greater Toronto Area (GTA) housing market experienced a tough year in 2022, as the number of new home sales declined to its lowest level since ...
Read more »
New video shows 'unprovoked attack' of 89-year-old woman on Toronto sidewalkNewly obtained security footage shows the moment an 89-year-old woman was allegedly pushed in an “unprovoked attack” in downtown Toronto on Friday.
Read more »
New video shows moments leading up to and following 'unprovoked attack' on Toronto sidewalkNewly obtained security footage shows the moment an 89-year-old woman was allegedly pushed in an “unprovoked attack” in downtown Toronto on Friday.
Read more »
People are pissed that Coldplay is not performing in Toronto on new world tourCitizens of Toronto are pissed that Coldplay won't be playing a show in the city any time soon, after the band announced new tour dates without any...
Read more »
Reklaws' new album brings tour to TorontoBrother and sister country duo The Reklaws is taking their new album on tour with stops in Toronto, Montreal and Kitchener.
Read more »