Wood & Panel

BILD announces financial report

 Thursday, March 19, 2015

bild logoThe first two months of the year’s new home sales have proven to be stable and on par with the 10-year average, the Building Industry and Land Development Association (BILD) announced today.



Total sales tallied 4,800 new homes with more low-rise than high-rise sales for the first time since 2012, a result of a few strong project launches across the GTA in February.



“The year is off to a stable start and it’s encouraging to see our sales figures meeting the 10-year average for new homes sold across the GTA,” said BILD Chairman Steve Deveaux.



“We continue to monitor sales as one indicator of how the market is doing. We have a healthy demand, but we cannot ignore that the supply of housing and choice in housing type is limited due to the under-serviced land, designated for development in the GTA.”



In the month of February, there were 2,798 total new homes sales with 1,465 low-rise – up 17 per cent from last February – and 1,333 high-rise, up 9 per cent from this time last year.



According to the RealNet New Home Price Index, the average price for a new low-rise home hit a new record high at $733,578 and the average high-rise price remained stable at $442,672. The price gap between low and high rise homes continues to grow. In February, it was $289,906.


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