Smaller centres may feel drop in housing prices the most

Declines could average 18 per cent

The price correction for housing in Ontario could average 18 per cent according to a survey by financial service company Desjardins.

It says the market has reached an ‘inflection point’ with prices off just a couple of percentage points in the last couple of months.

Desjardins suggests communities that saw the biggest increases during the pandemic will see the biggest declines.

Bancroft tops its list of 44 communities in the study.

Barrie (28) and Orillia (20) are in the middle of the pack.

Related: Slight chill in Barrie housing market

The most recent stats from the Barrie and District Association of Realtors showed a six per cent decline in prices in Barrie between April and May, but still 13 per cent higher than a year ago.

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