GTA New Home Sales Start 2026 At Record Lows: BILD

BILD warns that without improved market certainty and stronger consumer confidence, the slowdown could have broader economic consequences.

February 24, 2026

10:01 AM

New home sales in the Greater Toronto Area remained at historic lows in January 2026, according to new data released Tuesday by the Building Industry and Land Development Association (BILD).

There were just 269 new homes sold across the GTA in January, down 36% from January 2025 and 80% below the 10-year average of 1,339 units for the month, based on data from Altus Group, BILD’s official source for new home market intelligence.

“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 apartment sales were particularly weak, with just 85 units sold in January. That figure represents a 50% decline year-over-year and sits 89% below the 10-year average. Single-family home sales — including detached, semi-detached, and townhouses (excluding stacked townhouses) — totalled 184 units, down 26% from January 2025 and 68% below the long-term average.

Despite subdued sales, total remaining inventory changed little month-over-month, standing at 20,557 units in January. This includes 14,731 condominium apartments and 5,826 single-family homes, representing 26 months of inventory based on average sales over the past year — the highest level recorded to date.

BILD warns that without improved market certainty and stronger consumer confidence, the slowdown could have broader economic consequences.

“In order to turn these figures around we need market certainty coupled with steps to support consumer confidence to move buyers off the sidelines,” said Justin Sherwood, Chief Operating Officer at BILD. “Without that, we will continue to see record-low home sales and this will have significant employment and economic impacts across the region.”

Benchmark prices showed mixed movement. The benchmark price for new condominium apartments in the GTA was $1,027,486 in January, holding at what BILD described as an apparent price floor. Meanwhile, the benchmark price for new single-family homes fell 10% over the past 12 months to $1,397,358.

In Simcoe County — which BILD began including data from in 2025 — January saw 22 single-family new home sales and no condominium apartment sales. The weighted average price of new single-family homes in the region was $1,153,588.

Homes

CREA: Winter Storms Suppress January Home Sales

“The monthly decline in national home sales was driven primarily by less activity in the Greater Golden Horseshoe and Southwestern Ontario, suggesting that the story was probably more about a historic winter storm than a downshift in demand,” said Shaun Cathcart, CREA’s Senior Economist.

GTA New Home Sales Start 2026 At Record Lows: BILD

BILD warns that without improved market certainty and stronger consumer confidence, the slowdown could have broader economic consequences.

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