All that talk of a hard landing for Canada’s housing market seems a distant memory now. The latest monthly data on existing home sales from Canada’s two biggest markets — Toronto and Vancouver — suggest demand for housing is still alive and well. Existing homes sales in the Greater Toronto Area rose 30% in September from a year ago and a strong third quarter has the market about even with 2019 now, reports the Financial Post‘s Garry Marr. The Toronto Real Estate Board said there was 7,4ll sales through the Multiple Listing Service in September, up from 5,687 sales a year ago.

Meanwhile, home sales in the Vancouver region were up nearly 64% in September as the market posted big gains compared with a year ago. The Real Estate Board of Greater Vancouver said Wednesday there were 2,483 sales through its Multiple Listing Service in September, up from 1,516 a year ago. The Vancouver figures come with one important caveat, though, according to board president Sandra Wyant: “While sales are up considerably from last year, it’s important to note that September 2019 sales were among the lowest we’ve seen in nearly three decades."

Source Financial Post