reported a 4.58 per cent year-over-year decline in its benchmark home price for September, bringing it down to $1,068,700. Home sales for the month rose by 8.5 per cent, with 4,996 transactions compared to 4,606 in September of last year.and softened home prices, creating more favourable conditions for buyers reentering the market. The number of new listings also rose by 10.5 per cent year-over-year, totalling 18,089.
TRREB President Jennifer Pearce noted that, as borrowing costs decrease and lending guidelines adjust, more buyers are entering the market. “With every rate cut, a growing number of GTA households will afford a long-term investment in home ownership,” Pearce said. In Calgary, the market experienced a marked shift in September, with sales dropping to 2,003 — 17 per cent below last year’s record high, yet still 16 per cent above typical September figures. New listings, meanwhile, climbed to 3,687, signalling more balanced conditions.“We are starting to see a rise in new listings in our market. However, most of the listing growth is occurring in the higher price ranges,” Ann-Marie Lurie, chief economist at the Calgary Real Estate Board , said in the report.
“Real estate watchers have been monitoring the data for signs of renewed strength in demand in response to recent mortgage rate reductions, but the September figures don’t offer the signal that many are watching for,” said Andrew Lis, director of economics and data analytics at the Greater Vancouver Realtors , in the report.GVR added that, despite a 12.
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