We’re seeing a real shift in the Canadian real estate landscape: national home prices have dropped to their lowest point since early Q2 2023. The national index, covering 11 major metros, slipped less than 0.5% month-over-month—marking eight drops in the past nine months and wiping out the brief uptick we saw not long ago. Prices are now about 4% below the late 2023 peak. That rebound we hoped would stick? It faded quickly, with the adjusted measure falling about 0.5%, its first step back in six months despite support from jobs and affordability. Year-over-year, major metro prices are down around 4%. Cities like Vancouver, Hamilton, and Toronto led the declines, while Quebec City, Montreal, and Winnipeg managed to pull off gains.
As someone who’s spent over 20 years helping Edmonton families and investors navigate these changes, I know how quickly the mood can shift. With higher bond yields on the horizon, expect new mortgage costs to rise and borrowing power to tighten—just as home sales begin to cool off again. Even when headlines turn negative, there are always opportunities if you know where to look and have someone in your corner who’s not afraid to give it to you straight. If you’re thinking about your next move in this market, let’s have a real conversation about your options.
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