Royal LePage released its 2022 fourth-quarter House Price Survey.
- National aggregate home price down 2.8% in Q4 2022 vs. the prior year; first year-over-year decline recorded in more than a decade
- Prices remain above pre-pandemic levels: Canada’s Q4 2022 national aggregate home price has appreciated 13.8% vs. Q4 2020, and 17.2% vs. Q4 2019
- Greater regions of Toronto and Vancouver record year-over-year aggregate price declines of 4.6% and 3.5% respectively in Q4 2022, while the Greater Montreal Area posts a gain of 2.2% in the same period
- Less than 1% of all homes in Canada were purchased during the peak price period of February and March, 2022
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