Toronto home prices in record monthly drop as sales plunge

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Homes Sales in Canada Plunge, With Greater Toronto Seeing Steep Drops. But sales in the Greater Toronto Area have seen a steep drop- 20.8% down from last year, and a 25.3% decline from April.

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Home prices in Canada’s largest city posted their biggest monthly drop in at least 17 years in July and sales plunged as government efforts to cool the market and the near-collapse of a mortgage lender made buyers leery. The benchmark Toronto property price, which tracks a typical home over time, dropped 4.6% to C$773,000 ($613,000) from June.

Home sales across Canada see biggest monthly drop in seven. – OTTAWA – Home sales in June posted their largest monthly drop in seven years, driven by a plunge in the Greater Toronto market, the Canadian Real Estate Association said Monday. Transactions.

Average home prices in the Greater Toronto Area fell more than 20 per cent between April and August after peaking at record. sales in the GTA climbed 14 per cent compared with July on a seasonally.

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Toronto real estate sales may be cooling, but that didn’t stop condo prices from hitting a new high. Toronto Real Estate Board (TREB) numbers show condo prices hit a new record in May, despite slowing sales. The slowing sales are starting to become a drag on price growth, as inventory swells to a multi-month high.

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