Toronto region housing prices are continuing to decline with another month-to-month drop looking likely at the end of June. Condo sales saw a slightly less dramatic decline with 39.2 per cent fewer transactions and a 25.5-per-cent year-over-year price appreciation. The average sale price of a condo in the first part of June, $527,749, was $3,910 lower than the May month-end average. Ceniti expects the Toronto-area market is following Vancouver, which also dropped off its red-hot sales following the introduction of a foreign buyers tax. A balanced real estate market will have four to six months of inventory where prices won’t move much either way.

Source: thestar June 21, 2017 18:11 UTC