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The statistics in September show an increase in the number of homes sold compared to last year — which is very promising and welcome! All signs point to a more considerable drop in interest rates on October 23.
It definitely feels like the mood is starting to lighten and buyers are slowly creeping back into the Toronto market — specifically for freehold homes.
With a month or so left in the prime fall market, I suspect to see some slow growth in prices across the board. If we see at least one 0.5% interest rate reduction this could lead to a very busy and competitive spring. My advice to buyers is to reach out beforehand! - Andrew.
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