April 2026
Dear Friend,
A lot of interesting news in April! 5,039 homes sold in March, up slightly over last year while the number of homes listed dropped by a significant 16.7%. With sales starting to increase as we head into the spring market and only 21,596 homes listed, buyers will have less choice moving forward.
The big news is that as of April 1, 2026, Ontario officially eliminated the full 13% HST on eligible new home purchases for one year, running until March 31, 2027. Premier Doug Ford announced the measure on March 25, framing it as a "13% off" moment for the province's stalled construction sector. Buyers of new homes under $1 million can save up to $130,000, with partial relief extending to homes valued up to $1.85 million.
Here is the key clock for buyers: the purchase agreement must be signed between April 1, 2026 and March 31, 2027. Construction must begin by December 31, 2028, and the home must be substantially completed by December 31, 2031. It applies to new detached homes, semis, condos, townhouses, and rowhouses, primary residences and qualifying rental properties. This is not a first-time-buyer-only program. All eligible buyers qualify.
Why this move by the government? Ontario housing starts hit their lowest levels in years heading into 2026, with new condo pre-sales stalled and builder confidence fragile. The HST cut is designed not just to move buyers off fences, but to give developers the demand signal they need to break ground. The province estimates the measure will trigger 8,000 additional housing starts, support 21,000 jobs, and contribute $2.7 billion to Ontario's GDP.
This is a very positive move by the government, sorely needed to help restore consumer confidence given the turbulent times we are in.
Moving forward, I believe the market will continue to improve and prices will start their rise again.
Meanwhile, there are some great opportunities in the real estate market I would love to share with you. If you have any thoughts of buying or selling, give me a call; I would love to chat.
Have a great April!
Your Friend in Real Estate
Post a comment