Home sales in Toronto increased by 44 percent year over year, according to numbers released by the Toronto Regional Real Estate Board (TRREB).
“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” real estate board president Jennifer Pearce said in the release.
“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices, prompted this improvement in market activity,” Pearce said.
Realtors in the Greater Toronto area reported 6,658 home sales in October. That number was 4,611 in October 2023….