Toronto Builder - Fall 2009 - (Page 38)

RealNet GTA Market Update By Steven Hurst, Vice President, RealNet Canada NEW HOME SALES in the first 5 months of 2009 are down 44% from the same period last year. But there are really 2 stories here – one for low rise and one for high rise. High rise sales are down 63% over that time while low rise sales are down only 28% - and in certain market areas like Halton and Durham, low rise sales are down only 14% and 17% respectively. After 2 years of high rise projects outselling low rise projects the trend has reversed with low rise sales accounting for 69% of total sales – a market share for low rise product offerings not seen since 2003. MONTHLY NEW HOME sales really collapsed in the second half of 2008 (H2’08) and into the first quarter of 2009 (Q1’09). H2’08 was down 43% for high rise and 58% for low rise from the previous year. Low rise sales fell harder and earlier in H2’08 than high rise but have also had the first significant upward movement in 2009. The first 5 months of 2009 have recorded high rise sales 63% below the same period last year while low rise sales are only down 28%. Monthly sales are still well below previous years for high rise however low rise sales in Durham, Halton, and York were up 17%, 36%, and 41% respectively in May 2009 over May 2008. > 38 • Toronto Builder • Fall 2009

Table of Contents for the Digital Edition of Toronto Builder - Fall 2009

Toronto Builder - Fall 2009
Chair’s Message
President’s Message
Double Victory for Fact-based Lobbying BILD Efforts Results in Better Tax Deal for Homebuyers and Builders
BILD Housing Study Tour
Moving the Future
LEED for Neighbourhood Development
Habitat BBQ
Habitat BILD Day
National Home Show
RealNet GTA Market Update
Sponsor Profile
Calendar of Events
Marketing Partners and Corporate Sponsors
Welcome New Members
Index to Advertisers

Toronto Builder - Fall 2009