Toronto Home Prices Slip Back to 2020 Levels as Turmoil Lingers

Home prices in Toronto fell to their lowest level in more than five years as an outlook for slow economic growth and broader global turmoil make prospective buyers cautious.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Home prices in Toronto fell to their lowest level in more than five years as an outlook for slow economic growth and broader global turmoil make prospective buyers cautious. Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.The benchmark price of a home in Canada’s largest city dropped 0.6% in March from the previous month to C$928,000 ($667,090), according to seasonally adjusted data released Tuesday by the Toronto Regional Real Estate Board. When compared with historical figures from the Canadian Real Estate Association, the benchmark price was the lowest since December 2020. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Home prices in Toronto and across Canada have slid over the past year as the country became embroiled in a trade war with the US that has clouded the economic outlook and deterred businesses and consumers from making big investments. Now the war in Iran has added another weight, pushing economists to raise their forecasts for inflation and unemployment while lowering predictions for growth. For housing, that’s meant few eager buyers, and conservative bidding by the ones who have ventured into the market. Though sales in Toronto increased in March for the first time in six months, prices still declined as the supply of listings remained elevated.“Buyers continued to benefit from substantial negotiating power on price,” Jason Mercer, the Toronto real estate board’s chief information officer, said in a statement. The city’s benchmark price is now down more than 26% from its peak, undoing much of the torrid appreciation seen at the height of the pandemic buying frenzy, a comparison of the Toronto and national real estate board data show.Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.