GTA new home market busy in March 2020, inventory declines
Published April 27, 2020
The GTA new home market continued to see above-average sales and a decline in inventory in March, reinforcing the fact that new home sales in the GTA were positioned for a strong year, prior to the COVID-19 pandemic taking hold in mid-March.
There were 3,730 total new home sales in March 2020, which was up 67 per cent from March 2019 and 7 per cent above the 10-year average.
New condominium apartment sales were boosted by the record number of new projects launched in February, many of which opened near month-end. With most planned launches now being postponed, and hesitant buyers, sales in April are expected to be much more muted.
Read more findings from our market data in BILD’s monthly new home market data release.