#1
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business1d ago
What homes you can buy in real estate markets that have had big price corrections
- Ontario submarkets show steep price corrections with CREA data indicating declines in 14 areas since the peak.
- Oakville-Milton area exhibits one of the deepest corrections in dollar terms.
- A median home in Oakville-Milton could be $526,900 cheaper than in 2022.
- Northumberland Hills shows notable price declines amid rural market shifts.
- Hamilton-area prices fell about 26% from 2022 levels in some submarkets.
- Sellers report adjusting expectations as high prices gave way to lower market demand.
- Market dynamics show ongoing price corrections across both urban and rural Ontario.
- The Globe and Mail tracks CREA data monthly to identify shifting submarket performances.
- Researchers note a potential 30% price correction as a possible good average for some areas.
- Overall, the market shows a contrast between high past prices and current lower offers.
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