Real Estate Blog - average prices

A Spotlight on Canada’s Most Affordable Housing Markets

Posted by Infinity Admin on December 27th, 2022

For the first time since the early days of the COVID-19 public health crisis, residential property prices are coming down in the Canadian real estate market. Whether you call it a correction or a downturn, prospective homeowners might be finding housing affordability options across the country.

According to the Canadian Real Estate Association (CREA), national home sales tumbled 3.3 per cent month-over-month in November, and average prices declined 4.4 per cent year-over-year to $632,802. When the Greater Toronto Area and the Greater Vancouver Area are removed from the equation, the national average price is slightly more than $500,000. This is way down from the peak of more than $800,000 earlier this year.

But while…

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