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Toronto Leads First Drop in Canada's New Home Prices Since 2010

Canadian new home prices fell for the first time since 2010 in February, led by a drop in Toronto as buyers were squeezed by higher interest rates and tougher mortgage regulations.

Prices in the nation’s largest city fell 0.6 percent, the second monthly decline and the biggest in eight years. Builders also charged the same or less across much of Toronto’s surrounding cities, an area known as the Golden Horseshoe.