New home market in the GTA continues recent trends in November

The story in 2020 is the COVID-19 pandemic and its related impacts, both locally and around the world, and the GTA new home market is no different. After a very strong first quarter, the impacts from the pandemic and related government-imposed restrictions created major disruptions during the normally busy spring market.

GTA new home sales update - October 2020

GTA new home sales update - September 2020

With a large part of the workforce still in the dark as to when there might be a return to offices, some urban residents may be considering the benefits of more affordable housing options in the suburbs, and weighing a move out of urban areas. Will we see a mass exodus to the suburbs?

The new condominium apartment market in the GTA continued to recover from the impacts of the COVID-19 pandemic as both sales volumes and new project launches strengthened in July.

GTA new home sales update - July 2020

GTA new home sales update - June 2020

According to the latest Altus Group Housing Report, renovation spending is forecast to decline in 2020, though not as significantly as the overall economy.

New condo sales volumes in the GTA have hit record lows for April and May, as new project launches dropped to some of the lowest levels recorded by Altus Group since 2000.

GTA new home sales update - May 2020

Findings in the Altus Group Housing Report show a slump in sales of purpose-built rental apartment buildings in March 2020, down by almost half from February on a combined basis for major Canadian markets tracked by Altus Group.

GTA new home sales update - April 2020

With the COVID-19 pandemic impacting every province and municipality differently, the effects on real estate markets will vary across the country. In light of this, and the serious risks of potential missteps in the coming months, it has never been more important to ensure you make decisions about your properties and real estate strategies based upon reliable information.

Amid the COVID-19 crisis, many Canadian households are impacted by a loss in supplemental income from rental properties.

GTA new home sales update - March 2020

Data from Statistics Canada’s March Labour Force Survey (conducted during the week of March 15 to 21, 2020) provides the first comprehensive glimpse into the toll that the COVID-19 measures are taking on employment levels in Canada.

In early March, housing starts in Canada were poised for two more solid years in 2020 and 2021 – but that was before the COVID-19 pandemic hit. As of the end of March, the depth and duration of the economic disruption remain very uncertain.