(Source: The Globe and Mail)
This is shaping up as the year the Greater Toronto Area’s new-homes market went topsy-turvy.
For the past half decade there has been a slow but steady march toward high-rise condominiums taking over the lion’s share of the market. They climbed from about 40 per cent of new-home sales at the start of the decade to about 60 per cent 18 months ago. So far this year, that trend has done a complete flip-flop.
Read the full article by Terrence Belford, “As condo sales dip, the new homes market is turned on its head” in the Globe and Mail (Oct. 29, 2009).