A BILD senior executive is calling for government intervention to help boost record-low Greater Toronto Area new-home sales.

In July, the region’s new-home sales sank to a low not seen in decades, says a new BILD-commissioned report released Wednesday.

The region’s new home-sales remain “exceedingly low,” falling below 1990s downturn levels said BILD. Real estate analytics firm Altus Group conducted the report on BILD’s behalf.

Total GTA new-home sales fell to 3,007, with low condominium sales spurring the decline. According to The Toronto Star, July 2025 new-home sales were less than the 4,434 units traded in July 1990.

Only 150 condos were sold during July 2025, down 51% year-over-year and 89% from the 10-year average.

“What more evidence is needed to demonstrate that we need concerted action to address the crisis that is stalling out new supply and compounding the challenges in the GTA housing market?” said Justin Sherwood, BILD’s senior vice-president of communications, research, and stakeholder relations at BILD.

“Emerging from the 1990s downturn took years, with prolonged negative economic impacts and unemployment in the sector. The market, leaders within the industry and top economists are flashing every possible warning light, and the lesson from the 1990s downturn is clear: If government stands by, the pain will be deep and prolonged. To avoid repeating history, government intervention is not optional – it is urgently due.”

The Altus report points to more difficulty reducing a condo surplus that continues to plague the GTA. The remaining condo-apartment inventory includes 16,670 units comprised of 7,148 units in pre-construction projects, 8,212 units in projects currently under construction and 1,310 unsold units in completed buildings.

“GTA new home sales in July 2025 extended the severe slowdown the market is currently in the midst of with another record low for the month,” said Edward Jegg, research manager at Altus. “The protracted nature of this market has now surpassed the severe downturn in new-home sales during the early 1990s.”

The region’s 359 overall new-home sales in July 2025, were down 48% from a year earlier and 82% below the 10-year average, according to Altus, BILD’s official source for new-home market intelligence.

Historically, said BILD, new-home sales for a typical July in the GTA would be 1,941 units based on the previous 10-year average.

Photo: Shutterstock