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January 2026 new home sales in the GTA remain at record lows

GlobeNewswire · GlobeNewswire Inc.

Building Industry and Land Development Association (BILD)

Tue, February 24, 2026 at 8:03 PM GMT+9 3 min read

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Toronto, Feb. 24, 2026 (GLOBE NEWSWIRE) – New home sales in the Greater Toronto Area (GTA) remained at all-time lows in January 2026, the Building Industry and Land Development Association (BILD) said today. In order to increase activity in the industry, greater market certainty and a boost in consumer confidence is needed.

There were just 269 new home sales in January, which was down 36 per cent from January 2025 and 80 per cent below the 10-year average, according to Altus Group*, BILD’s official source for new home market intelligence. Historically, new home sales for a typical January in the GTA would be 1,339 units based on the previous 10-year average.

“GTA new home sales started 2026 the same way they ended 2025 with another record low for the month,” said Edward Jegg, Research Manager at Altus Group. “The sustained nature of the new home slowdown has been underpinned by the combination of affordability concerns and failing consumer confidence.”

Condominium apartments, including units in low, medium, and high-rise buildings and stacked townhouses, accounted for 85 units sold in the GTA in January, down 50 per cent from January 2025 and 89 per cent below the 10-year average.

There were 184 single-family home sales in the GTA in January, down 26 per cent from January 2025 and 68 per cent below the 10-year average. Single-family homes include detached, linked, and semi-detached houses and townhouses (excluding stacked townhouses).

Total new home remaining inventory in the GTA changed little compared to the previous month, at 20,557 for January. This includes 14,731 condominium apartment units and 5,826 single-family dwellings. This represents a combined inventory level of 26 months, based on average sales for the last 12 months — which is the highest inventory level seen to date.

“In order to turn these figures around we need market certainty coupled with steps to support consumer confidence to move buyers off the sidelines. Without that, we will continue to see record-low home sales and this will have significant employment and economic impacts across the region – and undermine future starts and supply,” said Justin Sherwood, Chief Operating Officer at BILD. “In the long-term, permanent and structural change is needed, but in the short-term, the federal government can kickstart activity by moving quickly on their commitments to reduce development charges (DCs) and provide certainty on tax measures. At this time, it is vital that governments work with speed and urgency to help support consumer confidence and revitalize activity in the market through policy changes that address government-added costs to new homes.”

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The benchmark price for new condominium apartments in January in the GTA was $1,027,486, remaining at an apparent price floor. The benchmark price for new single-family homes was $1,397,358, which was down ten per cent over the last 12 months.

In Simcoe County in January, there were 22 single-family new home sales and no condominium apartment sales, with the weighted average price of the single-family new homes in Simcoe County at $1,153,588.

With more than 1,000 member companies, BILD is the voice of the home building, residential and non-residential land development and professional renovation industries in the Greater Toronto Area. The building and renovation industry provides 256,000 jobs in the region and $39.3 billion in investment value. BILD is affiliated with the Ontario and Canadian Home Builders’ Associations.

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Attachment

BILD New Home Sales - Media Backgrounder - January 2026 - Altus Data Solutions

CONTACT: Janis McCulloch Building Industry and Land Development Association (BILD) 416-617-7994 jmcculloch@bildgta.ca

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