Low-rise new home sales in GTA continue to outperform historic averages in June as benchmark price decreases

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeGlobeNewswireThis section is The content in this section is supplied by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by GlobeNewswire Low-rise new home sales in GTA continue to outperform historic averages in June as benchmark price decreasesAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.Toronto, July 22, 2026 (GLOBE NEWSWIRE) — The enhanced HST rebate in Ontario continues to have a positive effect on new home sales in Ontario as low-rise units outperform its 10-year average for a third consecutive month and condominium sales increase over the prior year, the Building Industry and Land Development Association (BILD) said today. As full implementation details of the HST rebate are final and legislation has passed, the market has the certainty it needs to take full advantage of the rebate and can continue this positive momentum.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThere was a total of 1,175 new home sales in June, up significantly from the record June low of 2025 but 52 per cent below the 10-year average, according to Altus Group*, BILD’s official source for new home market intelligence. Historically, total new home sales for a typical June in the GTA would be 2,456 units based on the previous 10-year average.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again“June 2026 new home sales in the GTA once again were propelled by the single-family sector which benefitted from the HST rebate program,” said Edward Jegg, Research Manager at Altus Group. “The condominium sector has started to show some small gains but continued to be hampered by inventory that has shown less flexibility for pricing changes.”Condominium apartments, including units in low, medium, and high-rise buildings and stacked townhouses, accounted for 273 units sold in the GTA in June. This was a modest increase from June 2025 but 85 per cent below the 10-year average.There were 902 single-family home sales in the GTA in June, a significant year-over-year increase and 36 per cent above the 10-year average. Single-family homes include detached, linked, and semi-detached houses and townhouses (excluding stacked townhouses).Total new home remaining inventory in the GTA edged higher compared to May 2026 with 18,888 units for June as builders responded to increased sales levels with additional product. This includes 12,579 condominium apartment units and 6,309 single-family dwellings. This represents a combined inventory level of 36 months, based on average sales for the last 12 months.“After three consecutive months of positive momentum in the low-rise market, a pattern is emerging for new home sales in Ontario,” said Justin Sherwood, Chief Operating Officer at BILD. “The legislation enacting the HST rebate has been passed, the official forms for builders and buyers to claim the rebate are now available, and there is certainty in the market which is helping new home purchasers come off the sidelines. It is a great time to buy a new home – prices have come down over 15 per cent from last year, inventory is elevated as more product choice is entering the market, and HST implementation details are final. We see the positive momentum for single-family homes continuing through the fall. The condominium market continues to lag behind single-family home sales, and while sales for this category appear to have come off the bottom, an adjustment to the HST rules around construction start and completion dates would allow condominiums to better participate in the HST rebate program. Current market conditions truly make it a once-in-a-lifetime opportunity for new home buyers to purchase the home they desire and I strongly encourage everyone to take full advantage of the present moment.”This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.The benchmark price for new condominium apartments in June in the GTA was $1,038,604, remaining at an apparent price floor. The benchmark price for new single-family homes was $1,275,458, which was down 15.5 per cent over the last 12 months. These are gross prices, not reflective of any HST rebate, in order to facilitate a like-on-like comparison with previous years. Purchasers who qualify for an HST rebate would realize additional benefit from this rebate. In Simcoe County in June, there were 74 single-family new home sales and no condominium apartment sale, with the weighted average price of the single-family new homes in Simcoe County at $1,050,391.With more than 1,000 member companies, BILD is the voice of the home building, residential and non-residential land development and professional renovation industries in the Greater Toronto Area. The building and renovation industry provides 256,000 jobs in the region and $39.3 billion in investment value. BILD is affiliated with the Ontario and Canadian Home Builders’ Associations.*Altus Group should be credited as BILD’s official source of new home market intelligence.Nadine Habib Building Industry and Land Development Association (BILD) 416-617-7994 nhabib@bildgta.ca Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.