Sales of new homes remain stable in the GTA

GREATER TORONTO, June 20, 2014 /CNW/ - New-home sales in the Greater Toronto Area have rebounded from a slow 2013 and returned to healthy levels, the Building Industry and Land Development Association (BILD) announced today.

According to RealNet Canada Inc., BILD's official source for new-home market intelligence, there were 3,526 new homes and condominiums sold in the GTA in May, with increases in both high-rise and low-rise sectors.

High-rise sales were up 22 per cent from 2013, making it the third-highest May in the last decade and 11 per cent above the 10-year average. Meanwhile low-rise sales rose 27 per cent, sitting seven per cent below average.

"Sales through the first five months of 2014 have shown that new-home buyers have confidence in the market," said BILD President and CEO Bryan Tuckey. "This will result in the creation of hundreds of thousands of jobs in the coming year for GTA residents."

The building and development industry is a major engine in the regional and provincial economy, creating more than 207,400 jobs in construction and related fields last year.

According to the RealNet New Home Price Index, prices in the low-rise sector grew five per cent to $675,074. High-rise pricing increased slightly by one per cent to $437,773.

A statistical backgrounder is available for viewing. For additional information, contact Andrei Zaretski or Aonghus Kealy.

May '14	Low Rise			High Rise			Total
Region	2012	2013	2014	2012	2013	2014	2012	2013	2014
Durham	262	195	286	28	2	17	290	197	303
Halton	239	160	199	48	85	102	287	245	301
Peel	342	484	416	83	111	56	425	595	472
Toronto	40	33	31	1,265	1,148	1,435	1,305	1,181	1,466
York	826	439	732	403	176	252	1,229	615	984
GTA	1,709	1,311	1,664	1,827	1,522	1,862	3,536	2,833	3,526
Jan-May	8,087	4,931	7,516	8,470	6,229	8,305	16,557	11,160	15,821

Source: RealNet Canada Inc.

With more than 1,400 members, BILD, formed through the merger of the Greater Toronto Home Builders' Association and Urban Development Institute/Ontario, is the voice of the land development, home building and professional renovation industry in the Greater Toronto Area.  BILD is proudly affiliated with the Ontario and Canadian Home Builders' Associations.

SOURCE: Building Industry and Land Development Association

Aonghus Kealy, Manager, Communications, 416-391-3452 or 416-543-3903, [email protected]; Andrei Zaretski, Manager, Marketing & Media Relations, 416-391-3450 or 416-843-4898, [email protected]