April 2026 Marks a Milestone for Low-Rise Home Sales in the Greater Toronto Area

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April 2026 saw a significant uptick in single-family home sales in the Greater Toronto Area, driven by the new HST rebate program, while the high-rise sector remains uncertain.

In April 2026, the low-rise housing market in the Greater Toronto Area (GTA) experienced a notable shift, as new data from the Building Industry and Land Development Association (BILD) indicates that single-family home sales surpassed their 10-year average for the first time in three years. This milestone coincided with the implementation of Ontario's enhanced HST rebate program, which took effect on April 1, 2026. According to Altus Group, the authoritative source for new home market intelligence affiliated with BILD, there were 901 single-family home sales recorded in the GTA during April, marking a substantial increase year-over-year and surpassing the 10-year average for this segment by 21%. Single-family homes, which encompass detached, linked, semi-detached houses, and townhouses (excluding stacked townhouses), are seeing renewed interest among buyers. In contrast, the condominium market reported a starkly different scenario. Only 199 condo apartment sales occurred in April, a figure that is 88% below the segment's 10-year average. Overall, new home sales across all categories in the GTA reached 1,100 units for the month. While this represents a recovery from the record low sales observed in April 2025, it still falls 55% short of the historical average of 2,418 units typically sold in April within the region. Edward Jegg, Research Manager at Altus Group, commented on the situation, noting that the uptick in April's new home sales can be attributed to the recent HST rebate program. He emphasized that the sales increase was particularly pronounced in the single-family sector, where competitive pricing persisted, suggesting that the rebate benefits were being passed on to consumers. Jegg also highlighted the pent-up demand that has built up over the past several years, indicating that the positive trend observed in April is likely to continue, especially as prospective buyers gain clarity on the HST rebate's implementation. However, he pointed out that the current uncertainty surrounding the rebate's details, particularly for the condo market, remains a crucial issue. Justin Sherwood, Chief Operating Officer at BILD, echoed these sentiments, stating that the immediate rise in low-rise sales showcases buyer enthusiasm for new homes and enhanced affordability. He urged the government to expedite the clarification of program details, eligibility criteria, necessary forms, and rebate mechanisms to instill confidence among builders and buyers alike. On the inventory front, the total remaining inventory of new homes in the GTA fell below the 20,000-unit threshold for just the second time in 22 months, landing at 19,044 units in April. This inventory includes 13,331 condominium apartment units and 5,713 single-family homes, representing a combined total of 31 months of inventory based on average sales over the past year. It is important to note that this figure is somewhat inflated due to the extended period of historically low sales activity. As monthly sales volumes begin to recover, the months of inventory is expected to decrease rapidly. Regarding pricing, the benchmark price for new condominium apartments in April was maintained at $1,029,164, which Altus Group suggests functions as an apparent price floor. Meanwhile, the benchmark for new single-family homes was reported at $1,421,835, reflecting a 7.1% decline compared to the previous year. Both of these figures represent gross prices and do not factor in any potential savings from the HST rebate for qualifying buyers. In Simcoe County, there were 62 single-family new home sales in April, along with a single condominium apartment sale. The weighted average price for single-family homes in that region was recorded at $1,162,217.

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