While home prices continued to slump across most GTA property types in May, the new construction market was the exception. The benchmark price of a new condo jumped 25.4 per cent year-over-year to $758,370.

Can the market keep up its strong performance heading into the summer? According to Bullpen Research & Consulting president Ben Myers, there’s no denying that there’s a strong demand for new condo units in the GTA.

“The [GTA] new construction market has seen rapid price growth,” he tells Livabl, in a recent video interview. “Pricing is now above $1,000 per-square-foot in many of the downtown condo projects.”

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But Myers also says that real estate investors could start to experience some fatigue in the coming months.

“The one thing we’re seeing this year is a little bit of investor fatigue, they’re being a little more careful and not buying up every single unit in every single project that’s available,” says Myers. “I think developers are going to be a little more cautious going into the fall market.”

For more expert predictions on what the next quarter has instore for the new construction market, check out the video above.

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