Looking To Move? It Could Be Time To Build Your Dream Home - October 21, 2021
Ian Walterhouse
Thursday, October 21, 2021
Looking To Move? It Could Be Time To Build Your Dream Home.
While today’s supply of homes for sale is still low, the number of newly built homes is increasing. If you’re ready to sell but have held off because you weren’t sure you’d be able to find a home to move into, newly built homes and those under construction can provide the options you’ve been waiting for.
The latest data shows the inventory of new homes is increasing this year. Across the GTA, sales of new homes in the first six months of 2021 are 25 per cent above the 10-year average. New home sales in the Greater Toronto Area continue to rise with York Region being the leading market last month, according to a report from the Building Industry and Land Development Association (BILD). In June 2021, York Region saw 493 sales of new condo apartments and 426 sales of new single-family homes for a total of 919 sales — the highest total sales in the GTA last month, followed by Toronto with 882 and Halton with 853 total sales.
With more new homes coming to the market, this means you’ll have more options to choose from if you’re ready to buy. Of course, if you do consider a newly built home, you’ll want to keep timing in mind.
According to Edward Jegg, an analytics team leader at Altus Group,
“The demand for new homes remains impressive, in particular given the challenges homebuyers have faced in the past year.”
Buying a home near completion is great if you’re ready to move. Alternatively, a home that has yet to break ground might benefit you if you’re ready to sell and you aren’t on a strict timeline. You’ll have an even greater opportunity to design your future home to suit your needs. No matter what, your trusted real estate advisor can help you find a home that works for you.
Bottom Line
If you want to take advantage of today’s sellers’ market, but you’re not sure if you’ll be able to find a home to move into, consider a newly built home. Let’s connect today so you have a trusted real estate advisor to guide you through the sale of your house and discuss your home buying options.
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