Older couple - first home

by Paul Golini: Chair, BILD

 

 

Sales in January amount to future jobs

This week we got the tally of new home sales across the GTA in the month of January from BILD's source of new home market intelligence, RealNet Canada Inc. Typically, as compared to Januarys of the past, sales are just beginning to take off. Still, a total of 1,794 units is no small feat, especially since most builders use the month to sell off inventory as they prepare to launch new phases and projects in February and March.

What's interesting about the breakdown is that this is the first time since January 2011 that the majority of units were sold in our low-rise sector. More than 1,100 low-rise units were sold last month and the majority of them were in York Region. It was pretty much the same story in January last year with low-rise sales outpacing high-rise sales and York being the most active region.

If you've been following my column, you might recall that York Region is also a hot spot for high-rise sales. In the months that followed January last year, high-rise sales across the GTA increased steadily and while the City of Toronto had the most units sold last year, York saw high-rise sales more than double over 2010. So far this year, York remains desirable as sales in the high rise sector stayed strong, increasing from what we saw last January.

What all these sales numbers amount to are jobs, jobs, jobs. As units are sold and projects move into the next phase of development, our industry mobilizes to turn those floor plans into real-life homes. That's what I see when I look at our January sales.

Paul Golini Jr. is Chair of the Building Industry and Land Development Association (BILD). You can read more from Paul and BILD by visiting the Association's official blogTwitterFacebook and Youtube accounts.