High prices in the third quarter led to a slight cooling of the home resale market in major Canadian cities. Real estate agents using the Multiple Listing Service (MLS) sold 89,482 units in the July-September period, the third highest quarterly level on record according to the Canadian Real Estate Association (CREA).

Sales volume was down 4.1 per cent from the record earlier quarter due to fewer sales in Calgary, Edmonton and Montreal.

According to  a CREA economist, affordability is starting to erode sales activity.

Calgary and Edmonton sales are returning to balanced territory after record price levels set in the first half of the year.

Prices are predicted to level off  to a more normal level of activity just one or two percentage points higher than inflation for the next 12 months and mainly in Ontario and Quebec.

Current Toronto resale prices can be found on my Toronto Real Estate website listings homes and condos for sale.