New listings were also down on a year\u002Dover\u002Dyear basis by 16.7 per cent, according to TRREB data. Find out more.
Sales checked in at 5,038 units for the month compared to 5,627 in August and more than 9,000 in September 2001.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
Meanwhile, the MLS Home Price Index Composite benchmark reported an increase on a year-over-year basis of 4.3 per cent to $1,110,700 in September while the average price tumbled from $1,135,027 to $1,086,762 over the same period of time. The real estate board emphasized that supply remains an issue in the region despite the impact of higher interest rates, which jumped by 75 basis points in September. Climbing interest and
have put a damper on sales and weighed on prices, encouraging prospective buyers to sit on the sidelines and wait for greater price drops. But the lack of new listings means there may not be enough properties to go around.