Canadian home sales tick up as rate cuts draw more buyers

Canadian home sales have now increased for six of the past seven months, as declining interest rates and cheaper mortgage rates prompt more buyers off the sidelines.

There were 40,423 homes sold nationally in October, a 0.9-per-cent increase from September, but still 4.3 per cent below October, 2024, according to data from the Canadian Real Estate Association. The report found that new listings decreased by 1.4 per cent to 77,479 units from September to October.