The Toronto Regional Real Estate Board says home sales in June declined 16.4 per cent from last year, with many potential buyers staying on the sidelines despite the highly anticipated cut of the Bank of Canada's key interest rate. A west-end Toronto home for sale is shown in a July 15, 2023 file photo.
The Canadian Real Estate Association says the number of homes sold in October rose 30 per cent compared with a year ago, marking a shift from the market's holding pattern that the association has previously described.A Toronto home for sale is shown in a July 2023 photo. The Canadian Real Estate Association says the number of homes sold this October rose 30 per cent compared with a year ago, marking a shift from the market's holding pattern that the association has previously described.
On a seasonally adjusted month-over-month basis, national home sales rose 7.7 per cent from September. The association says rising home sales activity was broad-based, with the Greater Toronto Area and British Columbia's Lower Mainland recording double-digit increases in October. CREA senior economist Shaun Cathcart says the jump in sales was a surprise, even as the Bank of Canada continues to lower its key interest rate. He says the increase was more likely related to the surge in new listings that hit the market in September.Annual rental prices fell for the 1st time in over three years, but only in big cities
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