Overview
- Industry data show 1,100 new homes sold in the Greater Toronto Area in April, with 901 single‑family units accounting for most of the increase after the rebate took effect.
- Condominium transactions stayed weak at 199 sales in April and about 13,331 newly built condo apartments remain unsold, far below long‑run averages.
- Builders and trade groups say federal legislation and administrative details have not been finalized and uncertainty over whether the rebate will be applied at closing is slowing high‑rise sales.
- Benchmark asking prices in April were roughly $1.42 million for new single‑family homes and $1.03 million for new condos, and large investors have begun bulk purchases to rent and hold units until demand returns.
- The rebate offers up to $130,000 on homes priced to $1.5 million, buyers must close by March 31, 2027 to qualify, and analysts warn the short‑term low‑rise rebound may not solve structural oversupply in the condo sector.