Reported about 1 year ago
Toronto home sales increased by 4.2% in June, marking the first monthly gain since January after the Bank of Canada lowered interest rates in over four years. Despite a 9.3% rise in listings, benchmark prices rose by 0.4% to reach C$1.09 million ($799,000). The boost in sales follows months of stagnation due to high borrowing costs, with the housing market still quieter compared to previous years. Realtors suggest that further rate cuts may be needed to encourage more buyers to enter the market.
Source: YAHOO