As someone deeply engaged in real estate and home inspection, I’m watching significant changes unfold in both Toronto and Vancouver's high-end housing markets. Over the past year, Toronto has experienced an 11% drop—the steepest among 23 major cities—and prices have slipped nearly 30% from their peak. Factors like higher interest rates, the foreign-buyer ban, and increased supply are weighing heavily. Vancouver isn’t far behind, with a 10% decline in the last year and a 20% decrease since 2022. With further declines anticipated, understanding these shifts is crucial for anyone navigating these markets.
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