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Mon Jul 18, 2022, 08:50 AM

Canada Home Prices Slide Most Since at Least 2005 on Rates

Wealth | Real Estate

Canada Home Prices Slide Most Since at Least 2005 on Rates

-- Price decline accelerates to 1.9% in June; Toronto suburbs hit
-- Bank of Canada has increased borrowing costs aggressively

By Ari Altstedter and Mathieu Dion
July 15, 2022 at 9:18 AM EDT | Updated on July 15, 2022 at 11:00 AM EDT

Canadian home prices saw their biggest monthly decline in at least 17 years as the impact of higher interest rates began to spread across the country.

The benchmark price of a home fell 1.9% in June versus the previous month, according to data released Friday by the Canadian Real Estate Association. Thatís the third straight month of falling prices,

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