2 w. ago
GTA new home market collapse keeps getting worse as sales fall off cliff
Recent data reveals that just 53 new condos were sold in the City of Toronto last month, highlighting the depth of the city's home market slowdown, which has now fallen to historic lows across all housing types.Across the GTA, there were only 438 new homes in September 2025, according to data from Altus Group shared by the Building Industry and Land Development Association (BILD). This figure is 29 per cent lower than September 2024, and a staggering 80 per cent below the 10-year average.For comparison, a typical September in the GTA would see around 2,233 new home sales based on the historical average."New home sales across the GTA stumbled to another record low for the month of September," said Edward Jegg, Research Manager at Altus Group. "In fact, new home sales are down year-to-date across all the markets tracked by Altus Group led by Toronto, Vancouver, Calgary, Hamilton, and Kitchener-Waterloo where sales have fallen by over half co...
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