The new home market numbers just released by RealNet Canada point to a drop in sales for both low-rise and high-rise homes — though prices have held steady.
Across the board, new home sales were down in January by 35 per cent compared to the same period in 2012, and overall slipped 46 per cent from the long term average.
This January, low rise sales dropped 52 per cent from the same time the year before and were down 64 per cent from the long term average.
High rise sales fared better but still saw a drop. In the first month of the years, sales fell by about 8 per cent and were down 5 per cent from the long term average.
RealNet Index Price:
- High rise index price down 2.3 per cent from prior year
- Low rise index price up 16 per cent from prior year
- Remaining high rise inventory at fifth highest level on record
- Remaining low rise inventory at fourth highest monthly level since January 2011, but still very low
- Remaining total new home inventory within the long term normal range
For a look at how GTA sales have fared in the last decade or so check out the tables below…