Prices Start to Slip Except in Toronto

Recently the Canadian Real Estate Association announced that across the country we had an average price drop of 0.04%.  Although this is relatively small it is the first time we have seen price retreat in quit some time, 9 years to be precise.  Toronto seems to have missed the trend by showing an increase of 3.7% over last year.

It looks like this trend will continue for the time being, smaller increase and possibly some slight reductions in prices in more rural areas of the country.  I believe this type of market place will surround us for about 12 months before we start to see some real growth again.

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