Home prices in Toronto continue to reverse from the highs of 2007. Home sales are starting to decelerate across Canada with Vancouver and B.C prices heading downhill.

In the Greater Toronto Area some Real Estate districts do better than others and continue to hold their prices but the broader picture shows year over year sales sliding.

Affordability will be the answer and with the current Global Financial Crisis affecting so many financial institutions mortgages will become more difficult to obtain.

Loss of jobs will also have a serious impact on the affordability of new and resale homes so for the ongoing Toronto Real Estate Market, it will be wait and see.