Some other details from our March 2013 GTA New Home data release earlier this week.
Year to date (Jan. to Mar.) 2013 new home sales are down significantly from the same period last year. So far this year High Rise new home sales are down -24% and Low Rise new home sales are down -43% from the first 3 months of 2012. An interesting point however is the dip in new Supply so far this year. New High rise projects openings (total units) are down -64% from the same period last year and new Low Rise supply (total lots released) is down -53% from the same period in 2012. This had new home remaining inventory dropping slightly from February 2013 to March 2013. However, March 2013 available inventory is still +8% higher than last year for High Rise units and 15% higher for Low Rise homes.
Below is an extract from our Monthly Market Report – March 2013 to which all RealInfo subscription clients have access.