Homes across the GTA continued to sell, with steady activity following three consecutive 25-basis-point interest rate cuts by the Bank of Canada—the first time this has happened since the 2009 financial crisis. While analysts anticipated a more robust second half of the year, there is still optimism for a positive shift in the market in the coming months despite September’s more moderate performance.
“The annual improvement in September home sales was more than matched by the increase in new listings over the same period. This resulted in a better-supplied market and increased negotiating power for buyers re-entering the market. The ability to negotiate on price, led to moderate year-over-year price declines, particularly in the more affordable condo apartment and townhouse segments, which are popular with first-time buyers,” said TRREB Chief Market Analyst Jason Mercer.
Download our Comprehensive Market Update Brochure – Here
