Toronto home prices and sales dip as listing jump almost 4%

The benchmark price of a home in Canada’s largest city slipped 0.1 per cent in August from the previous month to $978,100. Photo by Peter J. Thompson/National Post

Toronto home prices declined again in August as persistent economic uncertainty and a glut of inventory weighed on the market.

The benchmark price of a home in Canada’s largest city slipped 0.1 per cent in August from the previous month to $978,100, according to seasonally adjusted data released by the Toronto Regional Real Estate Board. It was the ninth consecutive month home prices failed to rise — they began falling in December and have dropped every month since except for May, when they were flat.

The steady decline in Toronto’s benchmark home price has come at a time of broader weakening in the Canadian economy, wi