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Toronto Home Prices Post Worst Four-Month Drop Since 2005

  • New listings were also down in July compared to June
  • Sales in Toronto slipped as higher rates sidelined buyers
A house in the North York district of Toronto,

A house in the North York district of Toronto,

Photographer: Galit Rodan/Bloomberg

Toronto benchmark home prices fell for a fourth-straight month, a record-breaking streak of declines that some economists warn could become an historic downturn in Canada’s real estate market. 

The home-price index in Canada’s largest city declined 3.9% in July from the month earlier, bringing the total drop since April to 13.3%, according to data released Thursday by the Toronto Regional Real Estate Board. That’s the worst four-month performance since the measure started being tracked in 2005.