New home sales in the GTA marked a seventh consecutive month of record all-time lows, and now it is worse than the 1990s housing crash, a report commissioned by BILD shows.
The 1990s housing crash lasted roughly from 1989 to 1996 at the bottom of the market there were six consecutive months of record low sales, and sales were around double what they are today, according to the Wednesday report from the Building Industry and Land Development Association’s (BILD).
It showed that only 310 new homes were sold across the GTA in April 2025. That’s down 72 per cent from the same month last year, and a staggering 89 per cent below the 10-year average of 2,750 sales for April.