Calgary and Vancouver housing sales rise suggesting buyers ‘finally’ responding to rate cuts

Both Calgary and Vancouver reported strong home sales in October, indicating a potential revival in the housing market following recent interest rate cuts. Vancouver saw a 27.2% increase in seasonally adjusted sales from September, with year-over-year sales up 31.9%. Calgary's sales rose 9.4%, driven by demand for higher-end properties. Despite rising sales, Vancouver's benchmark price fell by 1.9%, while Calgary's increased by 4.5%. Experts suggest that further rate cuts may support continued market recovery, though supply constraints remain a concern.