Price drops and rising sales define Toronto’s housing market in September
The Toronto Regional Real Estate Board (TRREB) 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.
TRREB, which represents more than 73,000 members, attributed the sales increase to Lower Interest rates 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.
Read More: https://financialpost.com/real-estate/price-drops-rising-sales-toronto-housing-market-september
