Low-rise new home sales in the Greater Toronto Area outperformed their historic average for a third consecutive month in June, even as benchmark prices kept sliding, according to the latest figures from the Building Industry and Land Development Association (BILD).
There were 1,175 total new home sales in June — up significantly from the record low set in June 2025, but still 52% below the 10-year average of 2,456 units, according to Altus Group, BILD's official source for new home market intelligence.
The gains were driven almost entirely by single-family homes. There were 902 single-family sales in the GTA in June, a significant year-over-year increase and 36% above the 10-year average. Single-family homes include detached, linked, and semi-detached houses, along with townhouses (excluding stacked townhouses).
Condos told a different story. Apartments, including units in low-, medium-, and high-rise buildings along with stacked townhouses, accounted for 273 sales in June — a modest increase over June 2025, but still 85% below the 10-year average.
"June 2026 new home sales in the GTA once again were propelled by the single-family sector which benefitted from the HST rebate program," said Edward Jegg, research manager at Altus Group. "The condominium sector has started to show some small gains but continued to be hampered by inventory that has shown less flexibility for pricing changes."
Inventory, meanwhile, edged higher. Total new home remaining inventory in the GTA reached 18,888 units in June, up from May, including 12,579 condo apartment units and 6,309 single-family dwellings. Based on average sales over the past 12 months, that works out to 36 months of combined inventory.
Prices kept coming down, too. The benchmark price for new condo apartments in June was $1,038,604, which BILD says remains at an apparent price floor. The benchmark price for new single-family homes was $1,275,458, down 15.5% over the past 12 months. (Both figures are gross prices, excluding any HST rebate, to allow for a like-on-like comparison with previous years.)
BILD expects the momentum to hold. "After three consecutive months of positive momentum in the low-rise market, a pattern is emerging for new home sales in Ontario," said Justin Sherwood, chief operating officer at BILD. "The legislation enacting the HST rebate has been passed, the official forms for builders and buyers to claim the rebate are now available, and there is certainty in the market which is helping new home purchasers come off the sidelines."
Sherwood didn't mince words about the opportunity he sees. "It is a great time to buy a new home – prices have come down over 15 per cent from last year, inventory is elevated as more product choice is entering the market, and HST implementation details are final," he said. Current conditions, he added, make it "a once-in-a-lifetime opportunity for new home buyers to purchase the home they desire," and he said he'd encourage buyers to take advantage of the moment. He also flagged one policy gap: an adjustment to the HST rules around construction start and completion dates would help condos better participate in the rebate program.
Outside the GTA core, Simcoe County recorded 74 single-family new home sales in June and no condo apartment sales. The weighted average price for single-family new homes in the county was $1,050,391.
