Ontario HST rebate shields new home sales

The Ontario HST rebate continues to play a pivotal role in supporting new home sales across our region. In the GTA, we saw single-family home sales reach 692 units—an impressive 47% above the 10-year average. Overall, new home sales totaled 907. Yet, despite this activity, the benchmark price has dropped 14.6% year-over-year, highlighting shifting market dynamics. Notably, condo sales lagged significantly, falling 78% below average, largely because of the current limits on tax incentives. Drawing on my experience representing buyers and sellers in the GTA, I know how important it is to stay informed about these trends and to navigate the complexities of incentives and pricing in order to achieve the best results.