Low-rise new home sales in the GTA continue to reap the benefits of the HST rebate program in July

Low-rise new home sales in the Greater Toronto Area have outperformed their 10-year average for the fourth consecutive month, driven by increased demand from the HST rebate program. In July, total new home sales reached 1,018 units, 40% below the 10-year average of 1,707. Single-family home sales rose significantly, exceeding the average by 50%, while condominium sales increased 40% year-over-year but remained 80% below average.