Canadian home sales regain positive momentum in October

By Fergal Smith

TORONTO (Reuters) -Canadian home sales rose 0.9% in October from September as lower borrowing costs helped offset uncertain prospects for Canada's economy, data from the Canadian Real Estate Association showed on Monday.

It was the sixth monthly gain for home sales in the last seven months.

“After a brief pause in September, home sales across Canada picked back up again in October, rejoining the trend in place since April,” Shaun Cathcart, CREA's senior economist, said in a statement.

"With interest rates now almost in stimulative territory, housing markets are expected to continue to become more active heading into 2026, although this is likely to be tempered by ongoing economic uncertainty.”

Canada sends about 75% of its exports to the United States so its economy has been badly hurt by the U.S.-led trade war.

KEY DETAILS

* Home sales rose 0.9% in October from September. * Sales were down 4.3% on an annual basis, without seasonaladjustment. * The industry group's Home Price Index edged up 0.2% on themonth but was down 3% year-over-year * The number of newly listed properties declined 1.4%month-over-month * The Bank of Canada cut interest rates to a three-year lowof 2.25% in October

(Reporting by Fergal Smith; Editing by Cynthia Osterman)

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