Canadian Cities with Declining Home Prices in 2023
Saturday Feb 25th, 2023
Various forecasters provide real estate market predictions. Click for the full article or read the summary which follows...
Wondering where house prices are going down? If the housing market will crash in 2023 in Canada? You’re not alone. These are questions on nearly everyone’s minds as of late. That is with little wonder – 2022 turned out to be one of the most turbulent times for the real estate market recently. First, it experienced unprecedented highs and then unprecedented lows.
Barrie, Ontario, is the top city in Canada at the time of writing, with the most significant decline in house prices.
CREA forecasts a 6% Decline in Home Prices in 2023
Canadian Regional Housing Forecasts
Overall, reports suggest that the housing market in Canada will experience a decline in prices and sales. According to the Bank of Canada, home prices are expected to drop further this year after declining 13% since February 2022.