Greater Toronto Area, September 22, 2026 – Low-rise new home sales in the Greater Toronto Area (GTA) surpassed its 10-year average for a fifth consecutive month as momentum from the HST rebate program continues to get buyers off the sidelines, the Building Industry and Land Development Association (BILD) said today. Despite barriers remaining for the high-rise sector to fully participate, the new rebate program is making a positive and significant economic impact in Ontario.
There was a total of 907 new home sales in August, up significantly from the record August low of 2025 but 37 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 August in the GTA would be 1,449 units based on the previous 10-year average.
“GTA new home sales in August continued to be buoyed by single-family sales that are benefitting from the HST rebate program,” said Edward Jegg, Research Manager at Altus Group. “Builders have been replenishing the supply pipeline with product that is appealing to the more cost-conscious buyer.”
Condominium apartments, including units in low, medium, and high-rise buildings and stacked townhouses, accounted for 215 units sold in the GTA in August. This was a 50 per cent increase from August 2025 but 78 per cent below the 10-year average.
There were 692 single-family home sales in the GTA in August, a significant year-over-year increase and 47 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 eased higher with 19,030 units for August as builders responded to increased sales levels with a steady flow of product. This includes 12,734 condominium apartment units and 6,296 single-family dwellings. This represents a combined inventory level of 38.5 months, based on average sales for the last 12 months.
“After five consecutive months of increased sales for low-rise new homes, it is clear that the HST rebate program in Ontario is working,” said Justin Sherwood, Chief Operating Officer at BILD. “The program is not just making homeownership more attainable for thousands of new home buyers and young families; it is also making a profound impact in helping to protect the economy. It is supporting domestic employment, suppliers and economic activity at a very difficult time in Canadian trade. The residential home building industry is 100 per cent domestic from a labour perspective, and the vast majority of resources and inputs used come from Canadian suppliers. The rebate program is making a difference in the lives of Canadian homeowners, while also safeguarding the economy at a critical period. However, condominiums are continuing to struggle to benefit from the rebate program, underscoring the need to align construction start and substantially complete dates to allow this segment of the market to fully participate in the program as well.”
The benchmark price for new condominium apartments in August in the GTA was $1,041,918, up 1.3 per cent compared to last year. The benchmark price for new single-family homes was $1,248,866, which was down 14.6 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 August, there were 82 single-family new home sales and six condominium apartment sales, with the weighted average price of the single-family new homes in Simcoe County at $1,032,483.
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.
-30-
For additional information or to schedule an interview, contact Nadine Habib at nhabib@bildgta.ca (416-617-7994)
*Altus Group should be credited as BILD’s official source of new home market intelligence.
