New report suggests HST rebate continues to boost single-family new home sales across GTA

New single-family home sales in the GTA more than tripled in July compared to the previous year, driven by the HST rebate program, with 781 units sold, 50% above the 10-year average. Condo sales rose slightly to 237 but remain 80% below the 10-year average. The benchmark price for new single-family homes dropped 8.5% to $1.36 million, while condos rose 2.5% to $1.05 million. Inventory totaled 18,546 units, representing 36.5 months of supply.