According to Trimart Research Corporation, the Total Market Area (TMA) has seen 14,496 new low-rise sales this year, as of the end of July 2016. That equals 59.2% of Trimart’s annual forecast. With only 1,107 sales in July, the industry did see a pretty big slump through the summer. That’s 27.1% lower than last year.
The lack of supply and rising prices are the causes of the decrease in sales. Trimart says that there will be more than 30 new releases and openings during fall 2016, so the surge in inventory should boost sales, but don’t expect prices to drop.
By Lucas | on August 22, 2016 | Torontostar