Demand for new homes in Toronto has fallen to one of the weakest levels in years, despite soaring incentives. Altus Group and developer-group BILD GTA data shows new homes sales plunged even lower in October. Even with prices down more than 30% since peak and falling rates, buyers are still sitting the market out. The […]
Canada’s largest real estate market is turning into a headache for the country’s largest bank. Yesterday we mentioned RBC’s Greater Toronto Area (GTA) mortgage portfolio has seen serious mortgage delinquencies (90+ days) soar in Q3 2024. We received a few requests for a deeper dive, so here it is. Toronto real estate may seem boring […]
Greater Toronto real estate can’t catch a break these days. The latest data from developer intelligence firm Altus Group and the regional developer group BILD GTA, shows Toronto new home prices slipped lower in May. Weak demand at this price level has pushed sales this year to the weakest level on record. It’s not for […]
Greater Toronto real estate has seen new home sales collapse, but prices have been sticky. That’s beginning to turn, according to February data provided by Altus Group. Falling sales and rising inventory are finally chipping away at prices. However, recent gains since 2020 remain significant despite doubling inventory and halving sales. Greater Toronto New Home […]
The Greater Toronto real estate downturn has only had a limited impact on the condo market. That was the view in the condo market report shared by the Toronto Regional Real Estate Board (TRREB). In general, easing inventory and higher interest rates have resulted in relatively stable prices. The market is also significantly better supplied […]
Greater Toronto’s new construction housing has seen demand completely vaporize. Data from BILD GTA and Altus Group show new construction sales fell 90% in September. Prices are now falling, especially for condos which saw a $30k drop in the month. The segment was mostly bought by investors which have disappeared, helping inventory recover. Toronto New […]
Toronto real estate is suddenly so cold zero new single-family homes sold in June, but inventory has yet to bounce.
Greater Toronto new home prices are finally starting to cool. Data from Altus Group and BILD GTA shows new home prices fell in April. Fewer sales and more inventory definitely contributed to softer prices. However, inventory is still very tight compared to historic levels. More likely, the threat of rising rates deflated exuberance, driving prices […]
Greater Toronto real estate is doing some soul searching after soaring mortgage costs. Data from Altus Group and developer-group BILD GTA show new home sales cratered in March. Demand dropped across segments, but so did inventory. Despite scarce inventory, single-family home prices still saw the benchmark price drop. Toronto Single-Family Home Prices Slip, But Condos […]
Greater Toronto new home sales ripped to a new high last month. BILD and Altus Group data shows new homes had the biggest January ever, with tight inventory. Despite the perfect conditions for higher home prices, they did the opposite. The cost of a typical single-family home fell by tens of thousands of dollars, while […]
