‘No chance’ tariffs will negate HST rebate, as new single-family home sales triple in August - Toronto Star

The building industry says the rebate is counteracting the cooling effect of U.S. tariffs on Toronto's new homes market.

New single-family homes accounted for 692 GTA sales in August. That was compared to 215 sales in the same month in 2025.

New single-family home sales in the GTA more than tripled in August from last year’s historic low, while condo sales have remained substantially below the 10-year average, according to data prepared by Altus Group for the building industry.

The Building Industry and Land Development Association (BILD) attributed the increase in sales to Ontario’s HST rebate program, crediting it with counteracting the cooling effects of U.S. President Donald Trump’s tariffs on the new housing market.

“The tariffs and the global uncertainty and the trade wars have had a rather chilling effect on the market, so the HST rebate has countered that,” said Justin Sherwood, chief operating officer at BILD.