The momentum seen in the latter half of August, driven by the anticipation of interest rate cuts, continued into September. The interest rate reduction served as another sign that the market is projected to improve. Many buyers and sellers are now focused on the fall market, traditionally considered the second-best time of the year for real estate, as they aim to finalize their moves before the holidays.

This shift is reflected in the increase in activity. Home sales rose by 8.5% year-over-year, with 4,996 homes sold. Recent government measures, such as extending mortgage amortizations to 30 years and increasing the insured mortgage cap from $1 million to $1.5 million, have contributed positively. These policies provide buyers with more incentives to reenter the market, while allowing existing mortgage holders to shop around for better rates without being limited by a stress test, thus facilitating more affordable renewals. These announcements, combined with the September rate cut and expectations of deeper cuts in the coming months, are changing the sentiment and outlook toward real estate purchases.