GTA home sales drop 7.1% in September as higher rates bite
A for sale is sign is displayed in front of a house in the Riverdale area of Toronto on September 29, 2021. THE CANADIAN PRESS/Evan Buhler
Greater Toronto home sales slid 7.1 per cent last month compared with September 2022, with sales of semi-detached houses and townhouses particularly declining from last year.
The Toronto Regional Real Estate Board says last month's 4,642 home sales also marked a 12.1 per cent month-over-month decline from August.
The board attributes the downward trend to the impact of high borrowing costs, high inflation, uncertainty surrounding future Bank of Canada decisions and slower economic growth.
Meanwhile, the average home price reached $1,119,428, 3.4 per cent higher than in August and a three per cent increase from last September.
New listings surged 44.1 per cent to 16,258 in September compared with extremely low levels in September 2022, as the number of listings also trended upward on a month-over-month basis.
TRREB president Paul Baron says elevated borrowing costs are expected until mid-2024, after which they will start to trend lower, which suggests there will be an uptick in demand for housing ownership in the second half of next year.
This report by The Canadian Press was first published Oct. 4, 2023.
Shopping Trends
The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.
CTVNews.ca Top Stories
Widow takes Ontario police to court over declaration misconduct in her husband's death was 'not serious'
A grieving widow is taking the Ontario Provincial Police to court as she challenges its decision to call the misconduct of an officer that contributed to her husband’s death 'not of a serious nature.'
WATCH LIVE
WATCH LIVE Seniors over 87 can apply to join federal dental plan starting next week
Seniors over the age of 87 will be the first cohort that can apply to join a new federal dental-benefits plan, which will be phased in slowly over the next year.
Canadians Googled a lot of things in 2023, here are some of the top queries
From the Women's World Cup and Jeremy Renner to the Titan submersible, deadly earthquakes and the war in Gaza, Canadians searched far and wide on Google this year. These are the top queries in Canada for 2023.
WATCH LIVE
WATCH LIVE 'I know I messed up': Speaker Fergus testifying about video controversy
A repentant Greg Fergus is testifying Monday morning before his peers about what he says was his unintentional participation in a partisan provincial Liberal party event in early December, telling MPs on the Procedure and House Affairs Committee (PROC) that as the House of Commons Speaker, he knows he "messed up.'
BREAKING
BREAKING Homicide unit investigating after incident at Toronto apartment building leaves 2 young boys dead
Two young boys are dead and their mother is in critical condition after an incident in Scarborough on Sunday night.
'Barbie' leads Golden Globe nominations with 9, followed closely by 'Oppenheimer'
Greta Gerwig’s 'Barbie' dominated the Golden Globe Awards nominations with nine nods for the blockbuster film, including best picture musical or comedy as well as acting nominations for Margot Robbie and Ryan Gosling and three of its original songs.
Why Mariah Carey's 'All I Want for Christmas is You' became so popular - and stayed that way
If anything about Mariah Carey's "All I Want for Christmas is You" annoys you, best to avoid shopping malls now. Or the radio. Maybe music altogether, for that matter.
Israel battles militants in Gaza's main cities, with civilians trapped in the fighting
Israeli forces battled Palestinian militants in Gaza's two largest cities on Monday, with civilians still trapped in the fighting even after hundreds of thousands have fled to other parts of the besieged territory.
Nearly half of Canadians think carbon tax is ineffective at fighting climate change: Nanos
A new survey has found that Canadians are feeling slightly more confident in the carbon tax’s effectiveness at combatting climate change than they were a few months ago—but uncertainty is still high.
Montreal
-
Nurses, health workers set to join other Quebec public sector workers on picket lines
About 80,000 unionized Quebec nurses and other health care workers are set to join fellow public sector workers already on strike.
-
Family of Montreal woman killed by drunk driver demands Quebec lower legal limit
The family of a young woman killed by a drunk driver is pushing the Quebec government to tighten its rules around impaired driving.
-
Strikes: Nurses' union ready to negotiate over the holidays, Metallos donates $100,000
The FIQ union, which begins another strike sequence on Monday, still believes it's possible to reach an agreement with the Quebec government by the end of the year.
London
-
Blustery conditions start off the new week
Winds gusting up to 50 km/h could cause blowing snow and road conditions to keep an eye on.
-
Driver of fatal hit-and-run still at large
Via a video shared on social media, Norfolk County OPP have provided an update on their ongoing investigation into a hit-and-run that killed a 14-year-old boy.
-
'All we are seeing is smiles': Sick children treated to shopping spree in London, Ont.
The TLC Foundation treated more than 40 children and their siblings to a shopping spree at Toys R Us in southwest London, Ont.
Kitchener
-
BREAKINGBREAKING Person found dead, another injured in Kitchener
There’s an increased police presence on Green Valley Drive in Kitchener after a person was found dead.
-
Police release new photos after multiple shots fired into Kitchener crowd
Police are investigating a shooting in a Kitchener neighbourhood that sent one person to hospital.
-
Ukrainian newcomers struggle to find a home in Waterloo Region
Newcomers from Ukraine are having a hard time finding a new place to call home amid the ongoing housing crisis in Ontario.
Northern Ontario
-
Wanted woman found with drugs, a weapon, cash during a northwestern Ont. patrol
Provincial police arrested a wanted suspected drug dealer while on patrol in northwestern Ontario.
-
WATCH LIVE
WATCH LIVE Seniors over 87 can apply to join federal dental plan starting next week
Seniors over the age of 87 will be the first cohort that can apply to join a new federal dental-benefits plan, which will be phased in slowly over the next year.
-
Provincial police launch sudden death investigation in Mississauga First Nation
Ontario Provincial Police (OPP) are investigating what they are calling a 'sudden death' at a residence on Eli Street in the community of Mississauga First Nation, north of Blind River.
Ottawa
-
DEVELOPINGDEVELOPING Driver injured on OC Transpo bus in Nepean
The Ottawa Police is investigating reports of an incident on OC Transpo that has injured a bus driver.
-
Slow progress on some systems delaying other elements of Trillium Line LRT prep: report
A report prepared for a joint meeting of Ottawa's Transit Commission and Light Rail Subcommittee suggests that slow progress on completing work on the signalling, train control, and communications systems on the Trillium Line is having a domino effect on other aspects of preparation.
-
The 10 busiest photo radar cameras in Ottawa so far in 2023
Photo radar cameras caught an average of 627 speeders a day on Ottawa roads in October, as the extra sets of eyes on the road continue to detect speeders in school zones and community safety zones.
Windsor
-
$35-million manufacturing investment announced in Windsor
The Ontario government is announcing a $35-million investment to build a new manufacturing facility in Windsor, specializing in battery insulation panels and cell sheets for electric vehicles.
-
Boyz ll Men to perform at Caesars Windsor
Boyz ll Men are bringing their legendary act to The Colosseum stage on Sunday, March 3 at 8pm.
-
Winners, Marshalls, and HomeSense stores to reopen in Windsor-Essex
Winners, Marshalls, and HomeSense stores in Windsor and Essex County are reopening on Wednesday, according to the company's website.
Barrie
-
Big Wreck headlines Barrie's 2024 Downtown Countdown
In its 25th season, the family-friendly event hosts Big Wreck as its feature rock band and Sonshine & Broccoli for the children.
-
Barrie Curling Club advocates for its future with a new development planned nearby
The Barrie Curling Club continues to negotiate with the new developer of the old Barrie fairgrounds.
-
Clearview Township library hours getting a make-over
A pilot project modifying hours at all Clearview Public Library branches will run between January 2 and June 30 next year.
Atlantic
-
Wind warnings in place across the Maritimes, more than 10K without power
More than 10,000 Maritimers are without power Monday as a storm brings high winds and rain to the region.
-
Fourth person dies after P.E.I. collision
Another person is dead after a vehicle collision on Prince Edward Island last week.
-
In Halifax, a call to promote old-growth forests as a guard against future wildfires
After a historic wildfire season across Canada, experts are turning their eyes to Nova Scotia as a harbinger of the growing risk facing cities on the forest's edge.
Calgary
-
WATCH LIVEWATCH LIVE Seniors over 87 can apply to join federal dental plan starting next week
Seniors over the age of 87 will be the first cohort that can apply to join a new federal dental-benefits plan, which will be phased in slowly over the next year.
-
Preserving grasslands is good for the planet, ranchers say — and they want to be paid
Fed up with taking heat for their industry's carbon footprint, Canadian ranchers say it's time for government to step up and fund a solution that will reduce emissions while also preserving one of earth's most threatened ecosystems.
-
Pro-Palestinian protesters defy police advice, change demonstration location
It’s been nine weeks of duelling protests in Calgary between Palestinian supporters and Israel supporters outside city hall and Olympic Plaza
Winnipeg
-
Pro-Palestinian demonstrators march on Canadian Museum for Human Rights
Dozens of pro-Palestinian protesters stormed the Canadian Museum for Human Rights Sunday morning to bring attention to the human rights crisis in Gaza during the ongoing Israel-Hamas war.
-
'Don't' wrap the gift': Holiday travel tips from industry officials
As we enter the busiest travel time of the year, industry officials are warning you to be extra prepared when travelling this holiday season, and don't wrap your presents until you get where you're going.
-
Winnipeggers spot wild turkeys in Riverbend neighbourhood
With the Christmas spirit in the air in Winnipeg, it looks like some special visitors are trying to get in on the holiday fun.
Vancouver
-
'I feel like they dropped the ball and rolled the dice with my life': B.C. woman says cancer spread after lengthy wait for chemo
A Vancouver Island woman who says her cancer spread while she waited month after month for chemotherapy is calling on the province to do better for patients like herself.
-
WATCH LIVE
WATCH LIVE Seniors over 87 can apply to join federal dental plan starting next week
Seniors over the age of 87 will be the first cohort that can apply to join a new federal dental-benefits plan, which will be phased in slowly over the next year.
-
'These are apex predators': Sea to Sky residents call for better grizzly bear management
Concerned Pemberton locals and bear experts are calling for the creation of a designated Grizzly Bear Management Specialist position in the Sea to Sky corridor.
Edmonton
-
WATCH LIVE
WATCH LIVE Seniors over 87 can apply to join federal dental plan starting next week
Seniors over the age of 87 will be the first cohort that can apply to join a new federal dental-benefits plan, which will be phased in slowly over the next year.
-
WEATHER
WEATHER Josh Classen's forecast: Mild temperatures linger all week
Daytime highs will be above 0 C for four or five of the next six days, continuing our mild start to December.
-
Family of woman killed by police says her death was 'unnecessary'
Saturday, the woman's parents said their daughter's death was the result of "a complete mishandling of the tools available to law enforcement in the application of dealing with mental health issues."
