Toronto Real Estate, Condos, Condominiums

Toronto Condos hit a record 22,654 sales in 2007, making it the top site in North America for high-rise buildings.

Condominium building in the greater Toronto area helped push the seasonally adjusted and annualized rate of housing starts to 47,800, up 24.8 per cent compared to January.

Despite the U.S. housing meltdown, total Canadian housing starts for January and February were up 50 percent compared to the first two month of 2007.

The greater Toronto area is reporting nine new Condo openings in the first two months of 2008 compared to five last year at the same time according to a Toronto market research company, Urbanation.

According to the Ontario Home Builders Association, there is a significant backlog of Condo sales in the Greater Toronto area that are just now starting construction.