Home sales in the Toronto region saw 6,390 transactions in the last month after adjusting for seasonal factors, which amounted to a 34-per-cent increase over October of 2023.Toronto’s home sales climbed 14 per cent in October, the steepest monthly increase in nearly a year, as prospective homebuyers jumped back into the market after multiple interest-rate cuts.
Activity also swelled in other major Canadian cities last month, suggesting that the country’s real estate market may be beginning to rebound after two years of slow sales. Ms. Pearce said the lower borrowing costs and relatively flat home prices prompted the increase in activity.
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