Toronto detached homes dip below $1M, but will it lure buyers back?

Original article via Financial Post. Click here to read.

The average sale price of an existing detached home in Canada’s largest housing market has officially dipped below $1 million again, potentially a major psychological breakthrough but also a practical level that creates more access to housing.

Mid-month numbers that include sales over the first two weeks of August show the average detached home in the Greater Toronto Area sold for $974,212, an 0.8 per cent increase from a year ago but a decline from the $1,000,336 average price at the end of July

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