Second best-year ever for new home sales - Condo sales spike 34 per cent

January 29, 2008 - With another 1,785 new homes and condos sold in December, 2007, total new home sales last year reached 44,784 units, second only to 2002, when an astounding 53,669 units were sold.

Based solely on the strength of a 34 per cent spike in sales of new, high-rise condominium suites, total new home sales rose a solid 15 per cent in 2007 as compared with 2006. Low-rise new home sales held steady in 2007 compared with 2006.

The year 2007 will go down in the record books as the first year that high-rise housing sales (condo suites and lofts) outstripped low-rise (single-detached, semi-detached, town-homes) sales, reaching an astounding 52 per cent market share....

Read More