Toronto Home Prices Extend Their Slide Even as Sales Rebound

Toronto home sales rose last month as the Bank of Canada resumed interest-rate cuts, though prices continued their steady decline as a glut of listings increased buyers’ negotiating power.

Transactions in Canada’s largest city climbed 2% in September, rebounding from the previous month’s decline, seasonally adjusted data from the Toronto Regional Real Estate Board showed. Still, the benchmark home price dropped 0.5% from August to C$971,500 ($695,790). It was the 10th straight month without an increase.