Toronto home prices in record monthly drop as sales plunge

 · Transactions last month were down 6.7 per cent compared with May on a national basis, the third consecutive monthly decline, with the Greater Toronto Area registering a 15.1 per cent drop. Home sales are down 14.1 per cent from the record level set in March.

And the numbers are now in: Home sales dropped 14.5 per cent compared to December, while prices slipped 2.4 per cent, according to data released on Thursday by the Canadian Real Estate Association..

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Home sales in the Greater Toronto Area, Canada’s largest housing market, plunged 35% in February compared to a year ago, to 5,175 homes. The plunge in volume was spread across all types of homes. Even the previously white-hot condo sector froze over: Detached houses -41.2%. Semi-detached houses -28.7%. Townhouses -26.8%. Condos -30.8%.

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.

 · Home sales in GTA plunge in June The number of homes sold in the Greater Toronto Area in June dropped 37.3 per cent compared to 2016 by.

The Toronto Real Estate Board (TREB) is drawing attention to plummeting listings as home sales across the Greater Toronto Area broke another monthly record in May. "Whether we’re talking about existing homeowners or people looking to purchase for the first time, there is no shortage of buyers in the marketplace today," says Mark McLean.

Vancouver Real Estate Spring Market Goes Quiet in April 2018 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.

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The CoreLogic HPI provides the most comprehensive set of monthly home price. the supply of homes in default or foreclosure that may be offered for sale — is preventing prices from bottoming after.

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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An unexpected drop in new home sales for the month of January, plus a plunge. the rate monthly, since record-keeping began in 1963. Comparing the new home sales rate year over year, there was a 6.1.

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