How is the GTA housing market faring?

The new home market in the Greater Toronto Area saw a slight increase in March compared to February, but sales were still 70% lower than the previous year and 65% below the 10-year average. Condo apartments represented the majority of the active inventory, with 12,887 units, while single-family homes accounted for 1,592 units. Benchmark prices for both new condo apartments and single-family homes were down year-over-year, however, there is optimism that the market will experience a resurgence in the very near future.

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