Toronto New Home Prices Post Biggest 12-Month Drop Since 1996

Toronto new home prices fell at the fastest pace in more than two decades in October, further evidence that tighter mortgage lending has slowed a boom in Canada’s biggest city.

Statistics Canada’s price index for new Toronto homes fell 1.4 percent in October from a year earlier, the most since September 1996. Across the country, the price increase of 0.1 percent was the slowest since 2010.