Townhouse and condominium apartment sales in Ontario\u2019s Toronto-Hamilton corridor sank during the first quarter of 2025, spooked by tariff fallout and economic uncertainty. <\/p>\n\n\n\n
Sales volume in those categories remained at a multi-decade low in Q1, falling by 50 percent from a year earlier, according to data from Zonda Urban.<\/p>\n\n\n\n
There were 733 sales of new condominium apartments in Q1 across the Greater Toronto and Hamilton Area (GTHA), up slightly compared to Q1 2024. But just 441 new townhouses were sold in Q1, a steep 40 percent drop year-over-year. <\/p>\n\n\n\n
\u201cThe steadier townhouse market pulled back some in the first quarter, which we speculate is in part due to the volatile economic outlook,\u201d said Pauline Lierman, VP of market research at Zonda Urban. <\/p>\n\n\n\n
In a news release, Zonda Urban cited \u201cchaotic economic activity, including the tariff situation\u201d as a specific drag on the market for new townhouses. It also said consumer demand has \u201creversed\u201d since late last year, with Q1 buyers favoring new condo apartments rather than new townhouses as they did in Q4 2024.<\/p>\n\n\n\n
Though the Trump administration has changed its tariff policy multiple times over the past few months, in March it enacted a global 25 percent tariff on imported steel and aluminium products. According to the Canadian Home Builders\u2019 Association (CHBA), this could raise the price of processed steel and aluminium products shipped back into Canada for use by Canadian builders. <\/p>\n\n\n\n