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Toronto home prices in record monthly drop as sales plunge

OTTAWA (Reuters) – Canadian home prices fell again in November, the third straight monthly decline and the largest November drop outside. slowdown in Toronto will be similarly short lived. The.

On Thursday, the Toronto real estate board reported that July home prices in Canada’s largest city suffered their biggest monthly drop on record amid government efforts to cool the market and the near-collapse of Home Capital Group spooked speculators. The benchmark toronto property price, while higher 18% Y/Y, plunged 4.6% to C$773,000 ($613,000) from June.

Toronto Real Estate Board says average sale price of homes sold in the GTA hit $746,218 in July, down 19 per cent from market’s peak in April. Toronto home prices plunge as buyers retreat.

In the last two months alone, home prices in the Greater Toronto Area have dropped 14 percent. Back in April, an average Toronto home cost $920,791 – it is now $793,915, a whopping $126,876 drop.

represents the weakest performance on record for a month of May.. Home sales increased for a third month in a row in May, The moderation of the recent price decline at the national level is partly due to Toronto, where the index edged.

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.

Victoria's house prices recorded the biggest year-on-year rise of 5.95% during. The sales decline was partly due to the elevated activity in the previous year as.. followed by Toronto with monthly rent of CA$1,467 (US$1,105) and Calgary.

TORONTO – The average price of a home sold in the Toronto area last month climbed higher on a month-over-month basis for the first time since hitting a record in April. READ MORE: Canadian home.

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As the top chart shows, Toronto prices were breaking records each month and deals were booming. In March, sales were up 18% and the average home price soared 33% from the prior year to C$916,567. That began to turn the following month when listings jumped 34 percent. average prices started cooling in May, rising 15% and then up only 6% in June.

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