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Looking back at 2018, the housing market was quieter than we’ve experienced in previous years. With 77,426 residential transactions reported through the Toronto Real Estate Board’s MLS system, it was the lowest annual sales total since 2008, and represented a 16.1% decline in volume from the previous year. Stricter lending criteria, rising interest rates, and a 12.7% drop in the number of new listings were all factors in this decline.
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