Sales Surge Across Major Cities
Canada’s housing market shows signs of recovery as interest rate cuts boost buyer demand. October resales rose, especially in Toronto, Vancouver, and Montreal, following a 125-basis-point cut by the Bank of Canada.

Market Tightens, Favoring Sellers
Higher inventory has provided buyers more options, but demand still outpaced new listings in October, giving sellers more leverage in several cities.

Price Trends and Affordability Concerns
Prices remain relatively stable, with moderate gains in some areas. Condo prices in Toronto dipped due to increased supply, while Montreal saw an 8% annual price increase for single-family homes.

Future Outlook
With additional rate cuts anticipated, RBC expects continued demand growth. However, affordability remains a significant challenge for potential buyers.