Toronto home prices in record monthly drop as sales plunge

The index, which measures price changes for repeat sales of single-family homes, showed national home prices rose 0.9 per cent last month from April. Prices were up 4.6 per cent from a year earlier, an acceleration from April, and set a record nationally even as several key markets have passed their peak.

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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.

The benchmark Toronto property price, which tracks a typical home over time, dropped 4.6 per cent to C$773,000 (S$836,171) from June. That’s the biggest monthly drop since records for the price index began in 2000, according to Bloomberg calculations, and brings prices down to roughly March levels.

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Canada’s home sales fall most in 7 years, as Toronto market plunges. The benchmark property price, which tracks a typical property over time, dropped 4.6 per cent to $773,000 from June. That’s the biggest monthly drop since records for the price index began in 2000, according to Bloomberg calculations, and brings prices down to roughly March levels.

Read More: Sticker Shock Hits New Yorker Hunting for Toronto Apartment Unlike prices for detached homes, which are down almost 10 percent from the peak last year, condo prices have continued to climb,

March sales, CREA added, were down 4.6 per cent from a year earlier. Average prices fell 1.8 per cent from a year earlier, to $481,745, while the MLS home. Canada’s monthly report on the.

We’ll hear a lot more about it this week when the Canadian real estate association releases its look at how sales and prices fared. ll see yet another record high debt ratio in Q4, before we.

Housing prices plunge in Metro Vancouver | Vancouver Sun Toronto Home Prices See Biggest Drop On Record As Sales Plunge 40% The average price has declined by $175,000 since its peak earlier this year.

Homes Sales in Canada Plunge, With Greater Toronto Seeing Steep Drops. A Tale of 2 Canadian Cities-Vancouver home sales hit record high , Toronto takes a tumble. The national average price.