Greater Toronto home sales fell slightly last month to cap a year that saw buyers take advantage of "substantial negotiating power" on price.

Toronto’s housing market quieted down in December as sales slowed. Transactions in Canada’s largest city dropped nearly 19% from November on a seasonally adjusted basis, the first month-over-month decline since July,

Greater Toronto Area home sales tumbled to a five-month low in December, rounding out a subdued 2024 for the market as historically elevated borrowing costs kept sales in check for much of the year, data released on Tuesday showed.