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Canadian Home Prices Plummet to Nine-Year Lows

3/20/2026

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Summary

Story summary

The Canadian Real Estate Association reports February home prices continued to decline since early 2022.
The national benchmark price has fallen nearly 30% in inflation-adjusted terms, returning to nine-year lows.
Robert Kavcic, senior economist, says the market resembles the severe conditions of the 1990s.
Regional prices show Quebec at an all-time high, Ontario declines, and Greater Toronto homes down over one-third from the peak.

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Story summary

The Canadian Real Estate Association reports February home prices continued to decline since early 2022.
The national benchmark price has fallen nearly 30% in inflation-adjusted terms, returning to nine-year lows.
Robert Kavcic, senior economist, says the market resembles the severe conditions of the 1990s.
Regional prices show Quebec at an all-time high, Ontario declines, and Greater Toronto homes down over one-third from the peak.