Home prices across Canada continue to soften, prompting a closer look at when they were last this low. For many markets, prices have slipped to 2021 levels. zoocasa | realestate realestatenews housingmarkets housing Canada
After soaring to record highs in early 2022, home prices across Canada took a significant hit as interest rates increased.
According to the data, sourced from the Canadian Real Estate Association, the last time the national benchmark price hovered around its current level was in August 2021, when it sat just over $710K. Across the country, a further seven locales, including Edmonton , Winnipeg , and the Niagara Region , are seeing prices akin to March 2021 figures.
With affordability already elusive in Ontario and British Columbia prior to their 2022 peaks, many would-be buyers were sidelined earlier than in other markets, putting the breaks on additional price increases.
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