Toronto New-Home Sales Sink to 35-Year Low

In July 2025, new-home sales in the Greater Toronto Area sank to the lowest level in 35 years, significantly below the numbers seen during the 1990s downturn. Only 150 condos were sold, marking a 51% decrease from the previous year and an 89% drop from the 10-year average. Government intervention is being urged by BILD to address the crisis and avoid prolonged economic impacts similar to those experienced in the 1990s. The current condo surplus remains a challenge, with a substantial number of units in various stages of development and unsold completed buildings.