Toronto experienced the largest home price decline among major Canadian cities in 2025, with a 5% drop year-over-year. Nationally, the housing market saw its first annual price decline since mid-2023, falling 1%, with condos dropping 6%. Detached homes remained stable, while row, townhouses, and semi-detached homes declined by 1% and 2%, respectively. Some cities, like Ottawa-Gatineau and Quebec City, saw price increases.
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