GTA homebuilders say sales are starting to bounce back after interest rate hikes put the industry on pause for most of the past year.
single-family homes rose 81 per cent year over year in April, the Building Industry and Land Development Association reported on Wednesday.
The 1,327 condos and stacked townhouses that sold last month was a 57 per cent drop from April 2022 and 39 per cent beneath the 10-year average. Edward Jegg, research manager with Altus Group, which tracks new construction home sales and prices for BILD, said, “The fundamentals had pointed to a rebound in April and that strength is expected to continue through the spring market.”can find themselves in difficulty when interest rates rise and the market corrects as it has in the last year.
The benchmark price is based on the mix of homes coming on the market in April and a slight increase in inventory levels, said Wilkes.
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