The Canadian Real Estate Investor Podcast
National Market Update & Home Sales Hit 18-Month High
Published November 22, 2024 · 2623
Topics: Housing Market
Show Notes
The Canadian real estate market showed significant recovery in October 2024, with home sales reaching their highest level since April 2022 and we hear from our host across the country for boots on the ground updates
- Market conditions vary by region, with Edmonton and Montreal emerging as the hottest markets while Toronto's condo market faces challenges
- Key highlights:National average home price rose to $696,166, up 6% year-over-year
- Inventory levels dropped to 3.7 months nationally, the lowest in over a year
- Interest rate cuts from Bank of Canada (125 basis points) have helped boost market momentum
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