GTA low-rise housing supply still declining

There’s a shortage of low-rise housing in the Greater Toronto Area and it’s getting worse.

"Demand for new homes is outpacing supply across the GTA," said Bryan Tuckey, president and CEO of the Building Industry and Land Development Association.

"Constrained supply of serviced, developable land has significantly limited inventory of new homes, and you can't sell what you don't have.

BILD’s report using data from RealNet Canada shows that the amount of new detached, semi-detached and townhomes available for sale in the GTA fell to a new low of 4,298 homes last month.

Low-rise sales, which include detached, semi-detached and townhomes, declined 25 per cent from August 2014.

Sales of high-rise condos were down 24 per cent from August of last year.
 

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