Toronto Home Builders Just Had Their Busiest February Since 1948
- Condos lead best month on record as immigration buoys prices
- Tougher mortgage rules hurting single-detached market more
Photographer: Brent Lewin/Bloomberg
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Toronto developers had one of their busiest months on record in February in another sign the condo market is alive and well in Canada’s biggest real estate market, even amid a broader slowdown.
Builders began work on 5,677 units during the month, most of them multiple-unit projects like condos, the Canada Mortgage and Housing Corp. said Thursday in Ottawa. That’s the strongest February, and the sixth-highest figure for any month, in records back to 1948.