* CMHC's new and tighter mortgage lending rules plus Toronto Land Transfer Tax deferred some potential buyers from entering the market.
* Since June, the monthly resale transactions fared worse than 2011, year-to-year-wise.
* With less transactions and more listings, it has become a buyer market.
* Although transactions reduced, the average home price is modestly higher ("...detached homes that sold for over one-million dollars was down substantially...")
* According to MLS HPI detached benchmark (comparing home of the same attribute), low-rise home price "was up by almost six percent in Toronto."
For complete report, visit TREB's website.