The GTA housing market is currently a tale of two sectors. While the low-rise market is showing remarkable resilience—with single-family home sales climbing 26% above the 10-year average in May—the condo sector remains significantly stalled. According to new data from BILD and Altus Group, 830 single-family homes were sold last month, largely fueled by the provincial HST rebate program.
Conversely, the condo apartment market is struggling, with sales 89% below the 10-year average. Structural issues, including legacy pricing and strict rebate eligibility requirements, have left developers hesitant, with only one new condo project launched in 2026. While inventory levels have dipped below 20,000 units, creating a tighter supply, buyers remain cautious as they await further clarity on rebate administration. For a deeper dive into these diverging trends and the impact on your investment strategy, read the full report at Storeys.
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