It didn’t take much of a rise in new listings to get home buyers going last month. Just 3.2% to be exact. In a market starved of inventories, a 3.2% m/m increase was a rare opportunity for many to take the plunge. It was also grossly insufficient to meet the huge demand out there. Perhaps realizing the fall season may not deliver hoped-for housing answers, other buyers opted to dig deeper into (very thin) existing inventories. In the end, Canadian home resales jumped a solid 8.6% from September, making it the second-strongest October on record—and the clearest evidence yet the summer’s cooling period has stalled.
Read the report HERE