The Toronto Regional Real Estate Board said 5,875 homes were sold in November throughout the Greater Toronto Area, up 40.1 per cent compared with 4,194 in the same month last year.The composite benchmark price, meant to represent the typical home, was down 1.2 per cent year-over-year. The board noted that was a much lesser annual rate of decline compared with previous months.
The central bank is expected to cut rates for a fifth straight time at its final meeting of the year on Dec. 11. The rate currently stands at 3.75 per cent, down from the five per cent level earlier this year that deterred many would-be buyers from the housing market. "In contrast, the condominium apartment segment continued to experience lower average selling prices compared to a year ago. Condo buyers are benefitting from a lot of choice and therefore negotiating power," he said in a press release.
Transactions were at their highest level since May 2023, when the Bank of Canada had paused its hiking cycle, said National Bank economist Daren King in a note. Gunman at large after UnitedHealthcare CEO fatally shot in apparent targeted attack, law enforcement official says Environment and Climate Change Canada is warning Manitobans to be prepared for blowing snow and snow squalls on Wednesday.Winter weather, dangerous road conditions causing school closures in ManitobaAdditional weather alerts are in place in New Brunswick and Nova Scotia as an early December storm approaches the Maritimes.More than a month after the University Avenue green space in Halifax was de-designated as an encampment site, people are still sheltering in the area.One P.E.I.