The Greater Toronto Area’s (GTA) new home market experienced a dramatic downturn in 2025, with sales hitting their lowest point in 45 years. According to Altus Group, total sales plummeted to just 5,314 units, a stark contrast to the roughly 28,000 annual deals seen over the past decade. Condominium apartments, a key driver of GTA supply, saw particularly weak performance, with sales down 89% compared to the 10-year average. This slowdown is raising concerns about construction jobs and future housing supply. Factors like geopolitical uncertainty, elevated prices, and the Bank of Canada’s interest rate policies are contributing to buyer hesitancy. Industry leaders are calling for policy changes, such as eliminating the HST on new homes, to stimulate the market. For a deeper dive into the numbers and expert analysis, read the full article on mpamag.com.
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