Toronto house prices continue to decline

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It finally be heating up outside, but the Toronto real estate market feels like it's cooling down with sales and prices continuing to fall.

As BNN reports today, the Toronto Real Estate Board indicates that housing prices have dropped 20 percent since April. The average selling price of a GTA home was $731,614 in the first two week of August.

In the first 14 days of the month, sales were down 35.6 percent since last year.

Earlier this week, an economist from the National Bank of Canada predicted housing prices would continue to drop in the coming months.

Lead photo by

christinelouiseirois

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