Nationally, Canadian home prices fell 0.3% to $665,200 in January, down 21.8% from the March 2022 peak. However, most provinces saw price increases, with Newfoundland and Quebec reaching new highs. Declines were mainly in BC and Ontario, where prices dropped 0.9% and 0.5%, respectively, reflecting weak demand and high inventory. Ontario experienced the largest correction, down 26% since early 2022.
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