Three Real Estate Stories in the News for Thursday, February 8th 2018

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Average price for detached homes in downtown Toronto fell 4% in past year

The Toronto Real Estate Board said Tuesday the average selling price of a detached home in the Toronto area was $1,283,981 in January, a decline of 3.9 percent from the same month a year earlier.

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Toronto-area home prices increase 119 percent over decade: report

It’s no secret that real estate prices in the Greater Toronto Area (GTA) are at jaw-dropping highs. But knowing just how much they’ve risen in the last 10 years may seem downright shocking. The GTA unsurprisingly saw the biggest jump in real estate prices, up from an average home price of $376,236 in 2007 to $822,681 in 2017.

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Canada building permits rise in December on residential plans

The value of Canadian building permits rose more than expected in December, boosted by plans to build single-family homes in Ontario, which took steps to cool the Toronto market earlier last year, data from Statistics Canada showed on Wednesday.

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