New report finds home sales in the GTA in July were at the lowest levels seen in decades

New home sales in the Greater Toronto Area remain “exceedingly low,” with July seeing the lowest levels in decades, according to a new report.

The report, published by the Altus Group on behalf of the Building Industry and Land Development Association (BILD), warned that the current levels are “eclipsing the 1990s downturn.”

Researchers with the Altus Group found home sales in July were down by 48 per cent compared to last year, even lower than the 10-year average.

The report said new home sales for a typical July in the GTA would be 1,941 units based in the previous 10-year average. But only 359 homes were sold in July 2025.

Of the homes sold in the region, condominium apartments, including units in low, medium, and high-rise buildings and stacked townhouses accounted for only 150 units this July, 44 per cent lower than last year and 60 per cent below the 10-year average, the report said.