Toronto Home Prices Just Jumped Another 33%

Posted by Bloomberg

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Toronto’s residential housing market showed no signs of cooling last month, with the average sale price soaring a record 33 percent from a year ago, pushing the cost of a detached home in the heart of the city to almost C$1.6 million ($1.2 million). In Toronto and surrounding suburbs prices climbed by a third in every major housing category, including townhouses and condominiums, as demand rose and listings failed to keep pace, according to figures from the Toronto Real Estate Board.

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