Real Estate
Toronto Home Price Slide Slows With Sellers Holding Tight
- Benchmark prices in Canada’s biggest city down 17.7% from peak
- New listings fall to their lowest level for October since 2010
House prices began to fall in Toronto when the Bank of Canada started raising its benchmark interest rate.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
A multimonth slide in Toronto home prices slowed in October, as sellers stepped back in hope the market will improve if they wait.
The benchmark price for a home in Canada’s largest city fell 1.1% in October to C$1.1 million ($802,217) according to data released Thursday by the Toronto Regional Real Estate Board. That’s the smallest decline in the seven straight months of price drops, bringing total losses to 17.7% on a non-seasonally adjusted basis, the data show.