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Real estate slowdown continues, with average price down 22% since February


The common worth of a Canadian house bought in August was $637,673, a quantity that has fallen by greater than 20 % since February.

The Canadian Actual Property Affiliation mentioned Thursday that the variety of houses bought on the realtor group’s MLS system has now fallen for six months in a row, for the reason that Financial institution of Canada started to lift rates of interest in March.

Dwelling gross sales are down by 24 % from this time final yr. And the typical promoting worth has misplaced nearly $200,000 since hitting an all-time excessive of $816,720 in February.

Extra to come back.

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