Toronto home prices retreat to 2021 levels as red flags mount
The Greater Toronto Area housing market in August, as tracked by the Toronto Regional Real Estate Board (TRREB), paints a bleak picture. Average home prices have fallen to levels last seen in February, 2021.
Adding to the grim outlook, nearly 3 per cent of current listings are power-of-sale properties, while the region’s unemployment rate has climbed to 9 per cent, the highest in 12 years, excluding the anomalous period during the COVID-19 peak in 2020–2021.
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