06/19/2026
in
🏙️ GTA New Home Market Update: Low-Rise Sales Surge! 📈
🏠Here is a quick breakdown of what’s driving the numbers: 💸
💰Buyers are returning to the market to take advantage of Ontario's newly introduced temporary HST rebate program!
🏡 Low-Rise surge: 901 new single-family homes were sold—the strongest April for detaches, semis, and towns in 3 years, pushing sales above the 10-year average!🚀
📊 Overall Sales: Total new home sales hit 1,100 units—nearly tripling last year's record low of 384, though still 55% below the 10-year April average.
🏢 Condo Market Lags: New condo sales remained slow at just 199 units (88% below the 10-year average) as buyers and builders face uncertainty about how the new HST rebate applies to high-rise projects.📉
📉 Falling Inventory: Available new home inventory dipped below 20,000 units for only the second time in nearly two years.
💰 Prices: Single-family benchmark prices dipped 7.1% year-over-year to $1.42M, while condos are holding steady at $1.03M.
💡 The Takeaway: With lower benchmark prices on low-rise homes and a tax break on the table, the spring market is officially shifting gears.
