High interest rates and slow pre-construction sales in the Greater Toronto Area have sent new home sales into a record tailspin this year, the Building Industry and Land Development Association (BILD) reports.
Sales of new builds plummeted 56 per cent in April compared to last year and are 65 per cent lower than the 10-year average, according to BILD, which relies on Altus Group data.
Already a Subscriber? Sign in
You are logged in