Canadian home sales jump 7.7% in October
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FILE PHOTO: A for sale sign is displayed outside a home in Toronto, Ontario in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio/File Photo
TORONTO (Reuters) - Canadian home sales rose 7.7% in October from the previous month and were up 30% on an annual basis, adding to the rise in activity since the Bank of Canada began cutting interest rates, data from the Canadian Real Estate Association showed on Friday.
The industry group's home price index edged down 0.1% on the month and was down 2.7% annually, while the national average selling price increased 6% on the year.
(Reporting by Fergal Smith)
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