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Toronto Home Price Growth Slows as New Listings Soar

  • Average price rises 25% to C$920,791 after 33% jump in March
  • New listings jump 34% as Ontario imposes foreign buyer tax
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Ontario Tries to Temper Rising Toronto Home Prices

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Toronto home price gains slowed in April and new listings soared the most in seven years, signaling the red-hot market may be cooling after the Ontario government imposed new measures to curb runaway gains in Canada’s biggest city.

Housing prices jumped 25 percent last month from a year earlier, down from the 33 percent annual increase in March. The average price of C$920,791 ($671,000) in April was just 0.5 percent higher than in March, according to figures from the Toronto Real Estate Board.