Toronto Home Prices Dive $60,000 as April Sales Collapse

#torontorealestate #gtarealestate #canadianrealestate Toronto real estate prices are dropping hard. The benchmark price fell $60,000 in April alone—down almost $120,000 from last year—according to the Toronto Regional Real Estate Board. With mortgage rates climbing and uncertainty around tariffs, many buyers may find their new homes worth less by closing day. The Globe and Mail reports growing losses among sellers, and some realtors now admit they sold “dumps” at peak prices. But their brokerages told a different story—one pushed across media for years. Don’t rely on headlines or hype—use facts. Links: GTA REALTORS Release April Stats: https://trreb.ca/market-data/market-watch/ In Ontario, selling at a loss becomes commonplace: https://www.theglobeandmail.com/real-estate/article-in-ontario-selling-at-a-loss-becomes-commonplace/ Toronto-area home prices finally start to fall as buyers gain negotiating power: https://www.thestar.com/real-estate/toronto-area-home-prices-finally-start-to-fall-as-buyers-gain-negotiating-power/article_31223938-880d-4969-b691-8d46b55e8e13.html Fixed rates are creeping up—and variable-rate discounts are shrinking too: https://www.canadianmortgagetrends.com/2025/05/fixed-rates-are-creeping-up-and-variable-rate-discounts-are-shrinking-too/ Homebuyers see rising inventory, further price declines to come: https://www.theglobeandmail.com/real-estate/toronto/article-homebuyers-see-rising-inventory-further-price-declines-to-come/ Couple ordered to pay $470,000 after reneging on Ontario home deal: https://www.thestar.com/news/gta/couple-ordered-to-pay-470-000-after-reneging-on-ontario-home-deal/article_5e212592-ad11-5ba5-ba33-c5aeb1ce988d.html Biflation: Definition, Causes, and Example: https://www.investopedia.com/terms/b/biflation.asp Ontario housing shortage is worst in the country and threatens to exacerbate affordability woes: https://financialpost.com/news/economy/ontario-alberta-and-manitoba-lead-the-provinces-in-canadas-chronic-housing-shortage-says-scotiabank Spring housing market poised for continued price growth following double-digit gains in fourth quarter: https://www.royallepage.ca/en/realestate/news/spring-housing-market-poised-for-continued-price-growth-following-double-digit-gains-in-fourth-quarter/ Census data shows Toronto’s housing units growing faster than population: https://www.theglobeandmail.com/business/article-census-data-shows-torontos-housing-units-growing-faster-than/ Posthaste: Five market predictions in the wake of the 'hottest year in Canadian real estate history': https://financialpost.com/executive/executive-summary/posthaste-five-market-predictions-in-the-wake-of-the-hottest-year-in-canadian-real-estate-history Condo market rebound in Canada’s biggest cities has further to go, fuelled by rental demand: https://www.theglobeandmail.com/business/article-condo-market-rebound-in-canadas-biggest-cities-has-further-to-go/ Home prices set to rise another 9% in 2022 says RE/MAX Canada: https://www.wealthprofessional.ca/news/industry-news/home-prices-set-to-rise-another-9-in-2022-says-remax-canada/362278 RE/MAX 2022 CANADIAN HOUSING MARKET OUTLOOK: http://download.remax.ca/PR/2022CanadianHousingMarketOutlookReport_FULL.pdf Toronto Housing Market NOT in a Bubble, Says Bank of Canada: https://blog.remax.ca/toronto-housing-market-not-in-a-bubble-says-bank-of-canada/ Trudeau to meet with premiers as Trump threatens hefty tariffs on Canadian goods: https://www.cbc.ca/news/politics/trudeau-meet-with-premiers-trump-tariffs-1.7393419 Toronto home prices rose in October as supply shortage persists: ‘Things are heating up again’: https://www.theglobeandmail.com/business/article-things-are-heating-up-again-toronto-home-prices-climbed-in-october-as/ Mark Mitchell – Mortgage Broker London Ontario 920 Commissioners road east London, Ontario N5Z 3J1 Phone: (519)860-2102 (Call or Text) MarkMitchell@LondonOntarioMortgages.ca Brokerage Lic: 10464 Broker Lic: M16001479 https://www.LondonOntarioMortgages.ca – Apply Online!! Youtube Channel: https://www.youtube.com/c/MarkMitchellMortgageBrokerLondonOntario Subscribe NOW for more Mortgage/Financial News/Videos. Follow me on Social Media: Instagram - https://www.instagram.com/mortgagebrokerlondonontario Facebook - https://www.facebook.com/londonontariomortgages Twitter - https://twitter.com/londonmortgage1/ LinkedIn - https://www.linkedin.com/in/mark-mitchell-london-s-mortgage-broker-197842123/ TikTok - https://www.tiktok.com/@mortgagebrokerlondon?lang=en Commentary on this Channel should not be considered financial advice.