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Home Values Declining in Ontario, Causing Regret for Recent Homeowners

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Ontario,Home Values,Decline

A recent study reveals that home values in Ontario are decreasing, leading to regret for recent homeowners. Single-family homes in 18 cities and condos in 26 markets across Canada are experiencing a decline in value. Ontario's largest cities, particularly Burlington, have seen the biggest decrease in home prices. Homeowners are now facing the reality that their homes are worth less than what they paid for.

Unfortunately, many Ontario residents are experiencing the reality of their homes losing value. A recent study shows that single-family homes in 18 large cities and condos in 26 markets across Canada are depreciating. Homeowners are now facing the distressing fact that their hard-bought homes are worth less than a year ago. Ontario's largest cities, including Burlington, have seen the biggest decline in home prices.

Single-family homeowners in Burlington who purchased their homes in 2022 have lost an average of $163 per day in 2023, resulting in a decrease of nearly $60,000 in value

 

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