New home sales trend steadily improving



    TORONTO, June 22 /CNW/ - With each successive month this year, the number
of new home sales in the Greater Toronto Area has moved higher, the Building
Industry and Land Development Association (BILD) said today.
    There were 2,520 new homes and condos sold in the GTA in May, 2009,
representing the highest monthly total so far this year.
    Sales of low-rise (single-detached, semi-detached, town-homes) rose by
9.3 per cent in June however sales of high-rise units declined by 53.1 per
cent, resulting in the 24 per cent decline in total says compared with May,
2008.
    "We're looking at a very positive trend-line with some quite interesting
sub-trends between the low- and high-rise markets," said BILD President and
CEO Stephen Dupuis. "We're seeing homebuyers shift from high- to low-rise
purchases as they re-do the math and realize that between price adjustments,
incentives and interest rates, they can afford a semi-detached, town-home or
even a single-detached home versus a high-rise condo suite," Dupuis added.
    Dupuis expressed optimism that the positive sales trend would continue in
June based on anecdotal reports from builders, while cautioning that the
market as a whole is still down 44.5 per cent through the first five months of
the year. "We're clawing our way back but it's a slow process and a fragile
situation," Dupuis concluded.

    
    -------------------------------------------------------------------------
    May        Low Rise             High Rise               Total
    -------------------------------------------------------------------------
                            %                     %                     %
    Region   2008   2009  Change   2008   2009  Change   2008   2009  Change
    -------------------------------------------------------------------------
    Durham    197    231   17.3%     12      8  -33.3%    209    239   14.4%
    -------------------------------------------------------------------------
    Halton    232    315   35.8%    102     11  -89.2%    334    326   -2.4%
    -------------------------------------------------------------------------
    Peel      527    384  -27.1%    121     56  -53.7%    648    440  -32.1%
    -------------------------------------------------------------------------
    Toronto   119     89  -25.2%  1,425    689  -51.6%  1,544    778  -49.6%
    -------------------------------------------------------------------------
    York      488    690   41.4%     71     47  -33.8%    559    737   31.8%
    -------------------------------------------------------------------------
    GTA     1,563  1,709    9.3%  1,731    811  -53.1%  3,294  2,520  -23.5%
    -------------------------------------------------------------------------
    Jan-
     May    7,158  5,131  -28.3%  6,280  2,330  -62.9% 13,438  7,461  -44.5%
    -------------------------------------------------------------------------
    Source: RealNet Canada Inc.
    

    With more than 1,400 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 Breen, Manager, Communications, (416)
391-3450 or (416) 951-4081, communications@bildgta.ca; Stephen Dupuis,
President, Chief Executive Officer, (416) 391-3453 or (416) 948-8654,
sdupuis@bildgta.ca


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