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follow Patrick 2017 Dec 6, 7:41am
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A wave of new listings pushed home prices lower in Toronto in November as sellers try to lock in deals before new mortgage stress-testing rules take effect in January.The Toronto Real Estate Board (TREB) said the average home sold for $761,757 in the Greater Toronto Area (GTA) in November, down 2.4 per cent compared with October. The November drop halted a modest price recovery that began in September and continued in October, after a downturn through the spring and summer.Prices slipped in November as buyers faced a glut of purchasing options, especially for detached houses in the 905 region surrounding the City of Toronto.
new mortgage stress-testing rules