Oct 23 2008
Housing Prices Tumble in Metropolitan Canada
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Post written by Gerry Fung (Northbridge Consultants)
It was bound to happen. Housing prices are beginning to fall in metropolitan Canada. In the Greater Toronto Area, housing prices have tumbled the first time in over a decade, down by 3% from last year’s levels. Average existing home prices dropped to $368,549 in September, from the $380,132 recorded in the same month last year, according to the Toronto Real Estate Board.
Is this the beginning of a downward trend for Canadian real estate prices? Are Canadians really immune from the US subprime mortgage crisis?
Source: Macleans Blog Central
