March New Home Sales in Greater Toronto Area Show Improvement Despite Remaining Below 10-Year Average

📅 2 months ago

The new home sales in the Greater Toronto Area for March 2026 showed improvement compared to the previous year, with 948 new homes sold. However, the sales were still 64% below the 10-year average, marking it as the second-worst March on record. The data, provided by Altus Group, highlighted the performance of condominium apartments and single-family homes in the market. The inventory levels dipped below 20,000 units for the first time in 19 months, with benchmark prices remaining relatively stable. The anticipation of increased market activity following the HST relief on new homes is a positive sign for the industry.

The news is significant in the residential construction sector, indicating trends in the Greater Toronto Area housing market. Despite the improvement in sales, the market is still below long-term averages, reflecting ongoing challenges. The impact of the HST rebate on future market activity is a key point of interest for industry stakeholders.

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