9 September 2019

“In case the central bank has been considering a rate cut, such jobs results could make the Bank change its mind and remain on pause”, – he noted.

This performance had a positive influence on potential buyers’ purchasing power, as home sales were up in Canada’s largest markets lately. It shows that the Canadian buyers have adjusted to the impact of the stress test.

The Toronto Real Estate Board says home sales in the GTA rose by 13% annually last month. New listings were down by 3%, and the average home price rose by 3.6% on a year-over-year basis to $792,611.

At the same time, home sales in Vancouver showed an annual increase by 15.7%, although the average price fell by 8.3% to $993,300. It’s the lowest number since May 2017, the Real Estate Board of Greater Vancouver says.