GTA New Home Sales Remain at Near-Historic Lows in June Amid Prolonged Downturn
Toronto, July 24, 2025 (GLOBE NEWSWIRE) -- Greater Toronto Area, July 24, 2025 – Greater Toronto Area (GTA) new home sales remained extremely low in June, showing no fundamental change from previous months and continuing to indicate a stalled market, the Building Industry and Land Development Association (BILD) announced today.
There were 510 new home sales in June which was down 60 per cent from June 2024 and 82 per cent below the 10-year average, according to Altus Group*, BILD’s official source for new home market intelligence. Historically, new home sales for a typical June in the GTA would be 2,801 units based on the previous 10-year average.
“June 2025 new home sales across the GTA extended the prolonged downturn plaguing the new home market” said Edward Jegg, Research Manager at Altus Group. “Consumers are lacking the confidence to enter into one of their largest purchases as the economic uncertainty centered largely on U.S. tariff policies weighs heavily on potential homebuyers.”
Condominium apartments, including units in low, medium and high-rise buildings, accounted for 217 units sold in the GTA in June, down 67 per cent from June 2024 and 89 per cent below the 10-year average.
There were 293 single-family home sales in the GTA in June, down 53 per cent from June 2024 and 62 per cent below the 10-year average. Single-family homes include detached, linked and semi-detached houses and townhouses (excluding stacked townhouses).
New for 2025, BILD and Altus Group are now reporting on sales in Simcoe County. In June, there were 45 single-family new home sales in Simcoe County with the weighted average price at $1,106,054. Condominium apartments accounted for eight units sold in Simcoe in June, with the weighted average price at $836,495.
Total new home remaining inventory in the GTA increased slightly compared to the previous month, to 22,254 units. This includes 16,696 condominium apartment units and 5,558 single-family dwellings. This represents a combined inventory level of 19 months, based on average sales for the last 12 months – which is the highest inventory level seen to date.
“The new home market in the GTA remains deeply challenged and June’s sales and inventory numbers show that it is essentially bumping along at rock bottom,” said Dave Wilkes, President & CEO of BILD. “This is not a healthy or sustainable environment. The ongoing 'cost to build' crisis is prolonging the downturn and stalling recovery. To revitalize the market – a sector that is critical to Canada’s economic health – we need bold, immediate action from all levels of government. That includes measures like significant GST relief and broadening the work we have seen on DC reductions so far. Without urgent intervention, the future housing supply and economic wellbeing of the GTA is at serious risk.”
The benchmark price for new condominium apartments in June in the GTA was $1,028,527, which shows no material change over the last 12 months. The benchmark price for new single-family homes was $1,510,126, which was down 6.4 per cent over the last 12 months.
With more than 1,000 member companies, BILD is the voice of the home building, residential and non-residential land development and professional renovation industries in the Greater Toronto Area. The building and renovation industry provides 256,000 jobs in the region and $39.3 billion in investment value. BILD is affiliated with the Ontario and Canadian Home Builders’ Associations.
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For additional information or to schedule an interview, contact Janis McCulloch at jmcculloch@bildgta.ca (416-617-7994)
*Altus Group should be credited as BILD’s official source of new home market intelligence.
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Janis McCulloch Building Industry and Land Development Association (BILD) 416-617-7994 jmcculloch@bildgta.ca
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