New low-rise homes are outselling their ten-year average, and the HST rebate is why. From the founders: new homes are back in the running New low-rise homes in the GTA have outsold their ten-year average for six months running, according to the GTA home builders' association. New condos had their slowest September on record. The reason is the HST rebate. A new build has always carried a tax that resale homes don't. For agreements signed with a builder by March 31, 2027, Ontario's rebate removes most or all of it. Most condo projects can't meet its construction deadlines, so buyers went to low-rise instead. If you ruled out a new build on price, the comparison has changed. Before you settle on a resale home, see what a new one costs once the rebate comes off. The amount depends on the price and the builder's construction dates. Have your lawyer confirm you qualify before you sign. Joel Fox COO The library: new explainers on the Ownright blog Three new explainers on the Ownright blog. Read whichever one matches where you are in your move. Selling a condo in Ontario: what's different. Selling a condo is mostly like selling a house, except for one document the buyer will want before they firm up. It's the seller's job to get it. Conditional offers in Ontario: how conditions work. A lot of buyers assume there's a cooling-off period on a resale home. There isn't, so the conditions they negotiate are their protection, and the clock starts at acceptance. Switching lenders at mortgage renewal in Ontario. The renewal rate a lender offers is rarely the best one available. Moving to a new lender is simpler than it used to be, and the new lender often covers the cost. Hot off the press: how Ownright started Our co-founder and CEO Robert Saunders sat down with the Mantle Mondays podcast last month. Mantle Mondays: Selling Outcomes, Not Software. Robert on the slow, paper-based closing on his first condo that became the idea for Ownright, and on scaling from one closing a day to 50. Market snapshot: sales step back as fixed rates jump, and Ontario buyers have plenty to choose from Ontario's real estate association: sales down 8.3%, plenty of homes for sale Ontario sales were 13,340 in September, down 8.3% on last year and 0.8% below the five-year average for the month. The benchmark price, which tracks a typical home rather than an average, was $736,300, down 3.9% on last year. At September's pace of sales, the homes for sale would take 5.4 months to sell, against a long-run average of 3.4 for this time of year. Canada's real estate association: sales pull back as fixed mortgage rates jump National sales fell 2.3% from August and were 7.7% below last September, ending a four-month run of modest progress. The national benchmark price slipped 0.4% from August after four stable months, with CREA pointing to a fresh step down in Ontario prices. Our take: Markets now put the odds of a Bank of Canada rate increase on October 28 near 80%, up from roughly one in four in our last issue, after Governor Macklem signalled concern about inflation and September inflation came in at 3.1%. Canada's real estate association says that uncertainty will likely keep some buyers on the sidelines until the Bank's path is clearer. Client spotlight: in their words I was recommended to use Ownright by my realtor that helped me with my property sale and it did not disappoint. The process was seamless, and I appreciated knowing where we were at in the process of the sale. The dashboard is clear and the convenience of everything being online is unmatched. Reasonable fees as well! Would recommend P Priscilla Seller · Google review · October 2026 The Ownright advantage Buying or selling this year? Get a clear, fixed-fee quote for your closing in minutes. Get a quote About Us Contact Us Privacy Policy Ownright Inc. 545 King Street West, Toronto, ON M5V 1M1 You're receiving this because you subscribed to Realty Check. Unsubscribe