Lower interest rates are driving a surge in homebuying activity, with November showing strong resales and price increases across major markets. Toronto saw a 1.9% rise in home resales, while Montreal experienced a 15% jump. Calgary's market remains robust, with resales 50% above pre-pandemic levels. Despite some price appreciation, affordability issues persist, particularly in Toronto and Montreal. Overall, the market is expected to continue its recovery into 2025, supported by increased inventory and easing price pressures.
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