Toronto home prices in record monthly drop as sales plunge

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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.

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.

Home. drop in almost nine years, the association reported. There, average prices fell to $760,100, a 3.09% decline from April and the largest monthly decline since December 2008. A Tale of 2.

 · Manhattan home sales fell the most since 2009 as Bloomberg reports. Sales of condo’s and co-ops fell 25% in Q1 2018 compared to Q1 2017. It is unclear whether the drop.

Negative equity on the rise as house prices fall | 7.30 GTA home sales plunge 37.3 per cent annually Thursday, July 6, 2017 In June 2017, Greater Toronto Area realtors reported 7,974 home sales through the Toronto Real Estate Board (TREB)’s MLS System, a drop of 37.3 per cent compared to June 2016 levels.

The fall in average peak price in the GTA in June is an even more startling indication of a cooling market than the 37.3 per cent drop in the month’s home sales over last year, says a Toronto.

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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.

Three-quarters of all major local markets recorded a drop in sales.. National home prices also rose at a tepid pace, as softness in the Toronto market led. said the month-over-month decline is the largest in nearly a decade,

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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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