HST rebate boosts Toronto single-family home sales but fails to lift condo market in May
By
Rachelle Younglai
Summary
The HST rebate on new Ontario homes boosted single-family home sales in the Toronto region for a second consecutive month in May, with 830 new sales recorded. While this was 8% lower than April, it was 26% above the 10-year average. However, the tax break did not stimulate new condo sales, which totaled only 193 units in May, indicating a stark divergence in market response between house types.
Source
bskyHST rebate boosts Toronto single-family home sales but fails to lift condo market in Maytheglobeandmail.comKey quotes
· 3 pulledThe region saw 830 new single-family home sales last month, according to data from Altus Group.
Although the sales volume was 8 per cent lower than in April, May sales were still 26 per cent higher than the 10-year average.
In contrast, there were 193 new condo sales in May, according to Altus.
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