10/08/2026
Canada Home Prices Hit Their Lowest Since 2023
Home prices across Canada have softened to their lowest point since early Q2 2023, with the national index for 11 major metros slipping less than 0.5% month-over-month. That marks eight declines in the past nine months, effectively reversing the brief uptick we saw not long ago. Prices are currently down about 4% from their late-Q4 2023 peak, and this trend is reflected in the year-over-year numbers as well—Vancouver, Hamilton, and Toronto have led declines, while cities like Quebec City, Montreal, and Winnipeg are still holding on to gains. The rebound we experienced earlier in the year faded quickly, with the adjusted measure posting its first pullback in six months, despite earlier support from jobs and affordability. Looking ahead, higher bond yields are expected to push up new mortgage costs, which may limit borrowing power and further impact affordability as home sales start to decline again. With a deep understanding of market trends, I’m always committed to helping clients navigate changes and opportunities across the Niagara Region and beyond.