Healthy first half for new home sales



    TORONTO, July 23 /CNW/ - There were 3,544 new homes and condominiums sold
across the Greater Toronto Area in June, 2008, bringing total new home sales
for the first half of 2008 up to 17,094 units, Michael Moldenhauer, President
of the Building Industry & Land Development Association (BILD), revealed
today.
    While new home sales in June were very much in line with average June
sales over the last five years, they couldn't withstand comparisons with June,
2007, which set the all-time record for monthly new home sales. Similarly,
total new home sales through the first half of 2008 have fallen shy of the
breakneck pace of 2007, which was the second-best year ever.
    "Setting aside comparisons with last June or last year, the more than
3,500 units sold in June represents a very healthy level of activity,"
Moldenhauer noted. "We're on pace to sell up to 35,000 new homes and condos
this year, boosting the regional and provincial economy when so many other
sectors are lagging," he added.
    Moldenhauer added that sales of high-rise condominium suites accounted
for a remarkable 59 per cent of total new home sales.

    
    -------------------------------------------------------------------------
               Low Rise             High Rise               Total
    June
    ---------------------    %     ------------    %    -------------    %
                          Change                Change                Change
    Region   2007   2008           2007   2008           2007   2008
    -------------------------------------------------------------------------
    Durham    310    260  -16.1%     33     18  -45.5%    343    278  -19.0%
    -------------------------------------------------------------------------
    Halton    421    289  -31.4%     23     33   43.5%    444    322  -27.5%
    -------------------------------------------------------------------------
    Peel      487    263  -46.0%    237    310   30.8%    724    573  -20.9%
    -------------------------------------------------------------------------
    Toronto    75    108   44.0%  3,162  1,493  -52.8%  3,237  1,601  -50.5%
    -------------------------------------------------------------------------
    York      777    532  -31.5%    138    238   72.5%    915    770  -15.8%
    -------------------------------------------------------------------------
    GTA     2,070  1,452  -29.9%  3,593  2,092  -41.8%  5,663  3,544  -37.4%
    -------------------------------------------------------------------------
    Jan-
     Jun   11,992  8,834  -26.3% 11,059  8,260  -25.3% 23,051 17,094  -25.8%
    -------------------------------------------------------------------------

    Source: RealNet Canada Inc.
    

    With more than 1,500 members, BILD, formed through the merger of the
Greater Toronto Home Builders' Association and Urban Development
Institute/Ontario is the voice of the land development, home building and
professional renovation industry in the Greater Toronto Area. BILD is proudly
affiliated with the Ontario and Canadian Home Builders' Associations.





For further information:

For further information: Cynthia Malagerio, Manager of Communications,
(416) 391-3450 or (416) 951-4081, communications@bildgta.ca; Stephen Dupuis,
Chief Executive Officer, (416) 391-3453 or (416) 948-8654, sdupuis@bildgta.ca


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