Greater Toronto-area home sales increased by 0.6% in August, rebounding from a 0.8% drop in July, marking only the third monthly rise in eight months. Average home prices fell by 0.8% to C$1.12 million, ending a six-month increase, while new listings decreased by 1.6%. Economists predict home prices may decline as more homeowners list their properties due to high interest rates. Despite recent interest rate cuts, buying activity remains subdued as potential buyers await further reductions. Year-over-year sales were down 5.3%, with new listings up 1.5%.
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