BILD Releases New Home Sales Report for June 2013
By Lucas on Jul 19, 2013
On July 18, 2013, the Building Industry and Land Development Association (BILD) released their Greater Toronto Area (GTA) new home sales report for June 2013. All stats are from RealNet Canada Inc., BILD’s official source for new home market intelligence.
June’s low-rise numbers
June 2013 actually outperformed June 2012 in regards to the sale of new singles, semis, and townhomes. June 2012 racked up 1,029 sales, and June 2013 brought in 1,090. This is the first year-over-year increase the industry has experienced in 2013.
The region showing the highest number of sales for June 2013 was Peel with 391. The region with the least amount of low-rise sales was Toronto with 30.
June’s surge in low-rise sales didn’t do much to help the long term average. The first half of 2012 accounted for 9,139 low-rise sales. This year, we’ve only reached 6,044, which is a difference of approximately 34%.
June’s high-rise numbers
June didn’t go quite as well for the GTA’s high-rise sector. There were only 1,251 new high-rise sales last June - not even close to June 2012’s number of 2,335.
The region showing the highest number of sales for June 2013 was Toronto with 886. The region with the least amount of high-rise sales was Durham with two.
Like the low-rise sector, the high-rise sector came in well below the long term average. In 2012, there were 11,339 sales in the first half of the year, and in 2013, there were only 7,380 - a difference of 35%.
Bryan Tuckey addresses the low numbers
In BILD’s release, President and CEO Bryan Tuckey commented on 2013’s lower than average numbers: “Both the industry and the consumer are currently challenged by a considerable reduction of affordability and choice in the market...This has severely reduced new home sales, particularly in the low-rise market which is experiencing record-high pricing.”
Overall, June 2013 saw 2,341 new home sales, and there were 13,424 in the first half of the year.
See below for a chart of the GTA’s new home sales separated by region and year:
June '13 | Low Rise | High Rise | Total | ||||||
Region | 2011 | 2012 | 2013 | 2011 | 2012 | 2013 | 2011 | 2012 | 2013 |
Durham | 281 | 209 | 225 | 5 | 38 | 2 | 286 | 247 | 227 |
Halton | 188 | 94 | 73 | 74 | 120 | 86 | 262 | 214 | 159 |
Peel | 385 | 303 | 391 | 316 | 87 | 148 | 701 | 390 | 539 |
Toronto | 94 | 96 | 30 | 2,276 | 1,623 | 886 | 2,370 | 1,719 | 916 |
York | 761 | 327 | 371 | 337 | 467 | 129 | 1,098 | 794 | 500 |
GTA | 1,709 | 1,029 | 1,090 | 3,008 | 2,335 | 1,251 | 4,717 | 3,364 | 2,341 |
Jan-June | 9,620 | 9,139 | 6,044 | 14,464 | 11,339 | 7,380 | 24,084 | 20,478 | 13,424 |
To read BILD’s full report, click here.
