Home sales in the GTA drop 7.1% in September as higher rates bite

Greater Toronto home sales slid 7.1 per cent last month compared with September 2022, with sales of semi-detached houses and townhouses particularly declining from last year.

Last month’s 4,642 home sales also marked a 12.1 per cent month-over-month decline from August, according the Toronto Regional Real Estate Board’s latest market watch report.

Meanwhile, the average home price reached $1,119,428, a rise of 3.4 per cent from August and a three per cent increase from last September.