Detached home prices fall in Toronto

There is both good news and bad news in the latest report from the Toronto Real Estate Board.

The good news: They expect 2019 to be a pretty good year for home owners.

TREB expects prices in the GTA to rise by about 4 percent this year, with the price of condos driving that growth.

The bad news is for anyone who owns a detached home in the city of Toronto.

It's probably worth less now than it was a year ago.

TREB says the average detached price in January was $1,174,134, down 8.8 percent from the same month last year.

Overall, the average price for a home in the GTA rose 2.7 percent last month, because of gains in the condo market.