Canadian Real Estate Prices Near All-Time Highs, Except Ontario and BC

Canada's home prices fell 19.4% nationally, mainly due to sharp drops in Ontario and BC, while eight other provinces hit record highs recently. Ontario and BC's declines stem from rising interest rates, not slower population growth. Most provinces saw prices remain high despite slower sales, supported by affordability and credit stimulus. Interprovincial migration and market contagion also influence price trends across regions.