Canadian home prices continued to tumble in February, but there are signs that the bottom is near. teranet_social | banquenationale | hp_index | realestate realestatenews Canada homeprices realestatemarket
Published:Canadian home prices continued to tumble in February, according to new data, but there are signs that the bottom is near.
The index has been trending downwards for some time, but declines have progressively lost steam following ain September. The decline observed in February was the most nominal yet. In fact, it was the slightest decline the index has seen since July 2022. from the Canadian Real Estate Association, RBC, and Desjardins all came to a similar conclusion: prices are looking likely to bottom out soon, although there is still much debate as to when exactly that will be.Month over month, seven of the 11 CMAs examined in the index saw their indexes contract in February, including Toronto , Calgary , Halifax , Edmonton , Hamilton , Montréal , and Ottawa-Gatineau .
Conversely, prices increased during the month in Vancouver , Victoria , and Québec . Of the CMAs not included in the index, Trois-Rivières observed a gain of 7.7% in February, following a decrease of 9% the month prior, and Guelph saw a gain of 6.6%, following a decrease of 9.4% the month prior.Year over year, the national index fell 4.7% in February, marking the second straight month in which the metric was in “negative territory.
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