Toronto, Jan. 22, 2026 (GLOBE NEWSWIRE) -- Greater Toronto Area, January 22, 2026 – December sales capped off 2025 as the worst year on record for new home sales in the GTA, the Building Industry and Land Development Association (BILD) said today, raising serious concerns about job losses, future housing supply, and the region’s economic outlook.

There were just 240 new home sales in December, which was down 24 per cent from December 2024 and 82 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 December in the GTA would be 1,327 units based on the previous 10-year average. As December 2024 set a record-breaking low for new home sales, this December’s year-over-year numbers are now being measured against what was already one of the weakest months on record.

“GTA new home sales in December 2025 reached an all-time low, bringing a fitting close to 2025. Never in the 45 years that new home sales data have been collected for the GTA have we seen just 5,300 sales for an entire year,” said Edward Jegg, Research Manager at Altus Group. “Meanwhile, 2026 is likely to see geopolitical concerns linger, prices remain elevated and the Bank of Canada has indicated the cycle of interest rate cuts has ended – thus the main drivers of buyer hesitancy are expected to drag on well into the year.”

Condominium apartments, including units in low, medium, and high-rise buildings and stacked townhouses, accounted for 87 units sold in the GTA in December, down 42 per cent from December 2024 and 91 per cent below the 10-year average.

There were 153 single-family home sales in the GTA in December, down eight per cent from December 2024 and 59 per cent below the 10-year average. Single-family homes include detached, linked, and semi-detached houses and townhouses (excluding stacked townhouses).

Overall, 2025 was a record low year for new home sales. In 2025, total sales were 5,314, with single-family home sales at 3,247, down 63 per cent from the 10-year average and with condominium apartment sales at 2,067, down 89 per cent from the 10-year average.

Total new home remaining inventory in the GTA decreased slightly compared to the previous month, to 20,849 for December. This includes 15,115 condominium apartment units and 5,734 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.

“New home sales are down well into the double digits across the province, putting 100,000 jobs at risk in Ontario alone,” said Justin Sherwood, Chief Operating Officer at BILD. “To find a comparable collapse in new home construction, you would probably have to look back to the 1940s. New home construction is a cornerstone of our economy, yet it has effectively stalled. Now is the time to eliminate the HST on all new homes to lower the cost of housing and get buyers back into the market and the industry back to work.”

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The benchmark price for new condominium apartments in December in the GTA was $1,021,235, remaining at an apparent price floor. The benchmark price for new single-family homes was $1,409,725, which was down nine per cent over the last 12 months.

In Simcoe County in December, there were 21 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 $1,150,934.

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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For additional information or to schedule an interview, contact Janis McCulloch at [email protected] (416-617-7994)

*Altus Group should be credited as BILD’s official source of new home market intelligence.

Attachment

BILD New Home Sales - Media Backgrounder - December 2025 - Altus Data Solutions

CONTACT: Janis McCulloch Building Industry and Land Development Association (BILD) 416-617-7994 [email protected]

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