The Greater Toronto Area is suffering from a shortage in low-rise housing. That, according to a new report from the Building Industry and Land Development Association. Last month, there were more than 1,400 new condos sold in the GTA, but only 850 new homes. BILD President and CEO Bryan Tuckey says you can’t sell what you don’t have. Tuckey says you’ll pay $175,000 more for a new low-rise home, compared with high-rise. The average cost of low-rise in the GTA is more than $613,000. Meanwhile, Tuckey says Durham Region’s new housing sales are still lead by low-rise homes, but that may change as areas such as downtown Pickering and Oshawa continue to develop under the province’s ‘Places to Grow’ legislation.