The Toronto MLS home price index fell in November:RBC.

By: 600011 On: Dec 21, 2023, 5:29 PM


According to Royal Bank of Canada, the MLS house price index in Toronto decreased 1.7 percent in November. The Bank of Canada's interest rate rise campaign has been moderating since August, the bank stated in a report.The price index for the Toronto region is practically unchanged (up 0.1 percent) from November 2022. However, RBC reports that it has been dropping at an increasing rate in recent months.

The bank noted that buyers are present in practically every Ontario market. This suggests that new listings are greatly outpacing sales. According to the article, a similar occurrence has been reported in various areas of British Columbia.