Toronto Homebuyers Benefit from More Affordable Prices Now

Toronto's real estate market shows signs of recovery with September home sales rising 8.5% year-over-year, aided by a recent Bank of Canada interest rate cut. Average home prices dropped 4.7% to about $1.06 million, and sellers are accepting lower offers. Despite increased sales, unsold home supply remains high, with 19,260 new listings. Further rate cuts could improve affordability and boost sales.