Toronto home sales rose 8.5% in September as prices decline

Toronto home sales rose 8.5% in September with 5,592 homes sold, while average prices declined 4.7% to $1,059,377. The Bank of Canada's interest rate cut to 2.5% helped boost affordability, increasing sales across all property types, especially semi-detached and detached homes. New listings rose 3.9%, and active listings increased 18.9%. Further rate cuts could enhance sales and economic activity.