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The Bank of Canada announced a 50-basis-point cut to its overnight lending rate today, reducing it to 3.25%. This move is expected to significantly lower borrowing costs, potentially sparking renewed buyer and seller activity in the 2025 housing market.

Lower rates, higher confidence - Why it’s a game-changer for buyers

TRREB: GTA Home Sales Up Substantially in November

TORONTO, ONTARIO, December 4, 2024 – Greater Toronto Area (GTA) home sales increased strongly on a year-over-year basis in November 2024. Many buyers benefitted from more affordable market conditions brought about by lower borrowing costs. New listings were also up compared to November 2023, but by a much lesser annual rate. This meant that market conditions tightened, resulting in overall average price growth compared to last year.

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