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No Spring in Toronto's Housing Market, Says BMO

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It doesn't feel like spring in Toronto's housing market, said Bank of Montreal (BMO).

Home sales in Canada's biggest city were up 7% from a year ago in April, although from historically low levels, noted the bank.

With the increase, sales in the month were just above the lowest non-pandemic reading for April since 1998, not exactly pointing to a market that is humming with activity, stated BMO.

As such, prices continue to fade lower, pointed out the bank. The benchmark price in Toronto was down 6.6% from a year ago, pointing to continued softening on a month-to-month basis.

BMO generally sees this slow fade/stagnation in home prices continuing through 2026, especially with the Bank of Canada firmly on hold.

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