Ontario HST rebate shields new home sales

GTA single-family home sales in August reached 692 units, 47% above the 10-year average, with total new home sales at 907. The benchmark price was $1,248,866, down 14.6% year-over-year, excluding tax rebates. While low-rise housing surged, condo sales remained 78% below average due to tax incentive timeline restrictions. The homebuilding sector supports 256,000 jobs and $39.3 billion in investment, aiding economic stability.