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Ontario led the country’s decrease in housing prices last month, and Canada’s market saw a slowdown of almost 20 percent since February.
The province’s suburban markets started to drop, after spiking during the pandemic.
The Canadian Real Estate Association said yesterday that the volume of home sales fell by 5.6 percent last month.
The market is down by 25% compared to last year.
While some buyers are looking forward to lower prices, they’re also finding homebuying no more affordable, because the cost to finance a mortgage has gone up by more than the drop in prices.