Monday, 22 April 2013

GTA's New Condo Sales CRASH 47% in March 2013

Updated: added graphs and data for the city of Toronto


March, 2013 New Home Sales

High rise sales down -47% from last year
Low rise sales also down -47% from last year
In total this is the second worst March sales figures in over a decade!

1st Quarter 2013 New Home Sales

High rise sales down -24% from 1st quarter last year
Low rise sales also down -43% from 1st quarter last year

In total, sales down -34% from 1st quarter last year

City of Toronto

March, 2013 New Home Sales

High rise sales down -47% from last year, down 68% from the peak (2010)

Low rise sales also down -76% from last year


By the way, GTA just posted a record sales drop of land . Specifically, sales of land for residential development are down 45% in the 1st quarter of 2013 compared to a 4th quarter of 2012. On a year to year basis, the figure is down 40%. Worst drop on record! Yes, even worse than during the 2008 financial crisis.

Remember we are building a record number of new homes (over 68,000) right now. Well, it's safe to say that number won't be getting any bigger now. Toronto housing bubble is at it's peak!



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