Statistics Canada’s price index for new Toronto homes fell 1.4 per cent in October from a year earlier, the most since September 1996. Toronto new home prices fell at the fastest pace in more than two decades in October, further evidence that tighter mortgage lending has slowed a boom in Canada’s biggest city. New home prices were advancing at an annual pace of almost 4 per cent late last year before the mortgage rules took effect. New home prices advanced 0.4 per cent in Vancouver, while they declined on a 12-month basis in Edmonton and Calgary in the struggling oil-producing province of Alberta. The index includes single-family, semi- detached and row houses, but doesn’t capture condominiums that have become more popular in Toronto in recent years.

Source: thestar December 13, 2018 13:52 UTC