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The Housing Market and Unintended Consequences

The just released new housing market data for February are both encouraging and discouraging. The data, provided by our official source of new home market intelligence Altus Group, shows record sales for the condominium market, especially in the 905 Region, and it shows an unprecedented scarcity of new housing inventory, particularly for low-rise homes.






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Record month for condo sales as low-rise inventory drops to unprecedented scarcity

February was a record breaking month for new condo apartment sales in the GTA, while the number of new low-rise homes available to buy reached unprecedented levels of scarcity.






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Government needs to recognize our housing supply problem

The provincial government recently promised action on skyrocketing hydro rates, now we need them to turn their attention to our housing supply crisis and resulting pricing challenges in the GTA.






market

New home prices see slight decline in October

October saw a modest increase in supply and mix of new homes in the GTA, as well as a slight decrease in average prices.






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Our neighbourhoods are intensifying as the GTA grows up and not out

Across the GTA our neighbourhoods are intensifying and it’s affecting all of us.






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Housing supply drives up home prices

Over the last 10 years, the average price of new ground-related homes in the GTA has more than doubled.






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Above-average year for GTA new-home sales

Strong demand for new homes in the GTA resulted in the third-highest sales year in the past decade.






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Price increase of new low-rise homes continues

Prices of new low-rise homes in the GTA climbed to a new record high.






homebuyer

Understanding new-home buyers

Ever wonder why homes are designed a certain way or why some buildings have more amenities than others? Almost all of those decisions are based on thorough market research looking into what homebuyers are looking for.






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GTA Market Update at The Buildings Show

The GTA new homes market is a tale of two markets: the low and high-rise markets. Each performs differently and has changed dramatically over the last decade. This was the topic discussed by a panel of BILD members at The Buildings Show on December 3.