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August 31st, 2022 
Awake Goy A new TD Bank report suggests the average price of a home in Canada could fall between 20 and 25 percent from its peak seen earlier this year to the first quarter of 2023.
The report released Monday comes as a decrease in prices materialized in the summer as mortgage and interest rates rose. Many are expecting the drop to continue well into fall and even winter.
The latest data from the Canadian Real Estate Association (CREA) showed prices hit $629,971 in July, down 5 percent from $662,924 last July. On a seasonally adjusted basis, it amounted to $650,760, a 3-percent drop from June.
The report’s projected price drop represents an unprecedented decline at least going as far back as the late 1980s, when the data began, but it follows an unequally unprecedented rise during the pandemic, TD economist Rishi Sondhi wrote….
The report released Monday comes as a decrease in prices materialized in the summer as mortgage and interest rates rose. Many are expecting the drop to continue well into fall and even winter.
The latest data from the Canadian Real Estate Association (CREA) showed prices hit $629,971 in July, down 5 percent from $662,924 last July. On a seasonally adjusted basis, it amounted to $650,760, a 3-percent drop from June.
The report’s projected price drop represents an unprecedented decline at least going as far back as the late 1980s, when the data began, but it follows an unequally unprecedented rise during the pandemic, TD economist Rishi Sondhi wrote….
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