GTA on record pace when it comes to new build condos
If you're in the market for a new home in the GTA, you know how hard it is.
Scraping and clawing to try and get enough money together to buy that dream home.
But numbers out today show condo and apartment construction in the GTA is leading all segements.
And the reason is pretty simple; affordability.
The cost to buy a new build single family home is so high right now, that people are turning their attention to the condo market.
The GTA is on pace for the second straight record year when it comes to building new condos and apartment buildings.
And as supply of new homes remains limited in the GTA, analysts say you can expect the trend of new condos going up, to continue for the forseeable future.
And new numbers from the Canada Mortgage and Housing Corporation show, that affordability issue is also affecting places like Oshawa, where more single family homes were built in February than the past 11 months.