Toronto Home Prices Rebound in September, Sales Hit Eighth-month Low

Construction equipment is parked at the bottom of a pit on the site of a new condominium complex off Redpath Avenue in Toronto, Ont., on April 1, 2017. Chris Helgren/Reuters

TORONTO—Greater Toronto Area (GTA) home prices rose in September for the first time in four months, as the Bank of Canada paused its interest rate hiking campaign, but the level of sales fell to the lowest since January.

The average price of a GTA home rose 3.4 percent in September from August to $1,119,428, the first increase since May, Toronto Regional Real Estate Board (TRREB) data showed on Wednesday.