Consumer confidence in the Greater Toronto Area’s (GTA) new homes market is still low as sales amounted to the third worst April on record.
According to RealNet Canada Inc., there were 987 new single, semi-detached and townhomes sold in the GTA, the lowest ever recorded for that month.
Year to date sales painted a similar picture with the total number of homes sold combining for the second lowest on record and 30 per cent below the long-term average.
Sales in the highrise sector were close to the long-term average. The numbers indicate some signs of consumer confidence as 38 per cent of new openings in April were sold within the first month. This illustrates some improvement over the year’s first quarter new openings sales of 20 per cent.
The RealNet New Home Price Index showed a six per cent increase in the lowrise sector over April 2012, bringing the price to $627,933. Pricing for highrise homes remained relatively unchanged at $433,132.

