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Old Posted Oct 12, 2017, 6:21 PM
whatnext whatnext is offline
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Housing starts slide as Toronto real-estate market continues to cool

The slowdown in Toronto's real estate market is spilling into the market for newly constructed homes as builders face weaker demand, especially for more expensive detached houses.

Since the Ontario government announced a package of measures in late April to cool the overheated housing market in Toronto, builders of ground-level homes – including detached and semi-detached houses as well as townhouses – have seen sales slow significantly as many buyers have remained on the sidelines or have turned to the less expensive condominium market....

...But while the condo sector remains on course to be at or near a record sales year, Mr. Tuckey said the low-rise home market has seen sales fall owing to both lower demand and low inventory available for sale after a strong first half of the year. For new low-rise homes, 2017 is well below the 10-year average for sales, even despite a strong start to the year, he said.

"It has cooled from July to August and I think a lot of that is the fact that there is a little more inventory there," he said...
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