In the Toronto region, home resales fell 11 per cent in September over August, while the composite benchmark price in the Vancouver area declined 2.1 per cent from August
Real estate markets in Toronto and Vancouver fell in September, with sales and home prices down in both the cities as interest rates continue to dampen demand and mortgages remain difficult to secure.resales fell 11 per cent in September over August on a seasonally adjusted basis, and were down 44 per cent from the previous year, according to the Toronto Regional Real Estate Board .
The home price index, which excludes sales of extremely expensive homes, fell for the sixth straight month in the Toronto region, down 1.2 per cent from August and 19.3 per cent from the market peak in March. The typical price in September was $1,110,700.is still up 4.3 per cent compared with September last year. However, the average sale price, which includes all homes, is now down 4.
Over all, new listings were down 16.7 per cent for the Toronto region in September as homeowners waited for stronger market conditions. In the Vancouver area, the composite benchmark price for all residential properties in September was $1,155,300. This is up by 3.9 per cent compared with last September, but down 2.1 per cent from August and 8.5 per cent over the past six months.
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