A significant shift is underway in the GTA’s new home market. According to the latest data from Altus Group and BILD, May saw 1,023 new home sales—a stark improvement over the record lows of May 2025. The primary engine behind this momentum? A newly expanded HST rebate program offering up to $130,000 on qualifying new homes priced under $1 million.
While the single-family sector is thriving, currently performing 26% above its 10-year average, the condominium market remains stagnant. High-rise projects are struggling to benefit from the rebate due to strict “substantially completed” requirements and legacy pricing models. Despite the positive activity, total market sales remain 57% below the 10-year average, as buyers wait for further administrative clarity on the rebate process. For a deeper look at how these policy changes are reshaping your buying power, read the full report at the Financial Post.
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