{"id":687252,"date":"2026-05-22T22:14:11","date_gmt":"2026-05-22T22:14:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/687252\/"},"modified":"2026-05-22T22:14:11","modified_gmt":"2026-05-22T22:14:11","slug":"canadian-home-prices-near-record-highs-in-all-but-2-provinces","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/687252\/","title":{"rendered":"Canadian Home Prices Near Record Highs In All But 2 Provinces"},"content":{"rendered":"<p>Canadian policymakers have apparently offset any downward pressure from changing fundamentals. <a href=\"https:\/\/www.crea.ca\/\" rel=\"nofollow noopener\" target=\"_blank\">Canadian Real Estate Association (CREA)<\/a> data shows the price of a typical home climbed in all but one province in April. Despite a major correction in the national numbers, the provincial Home Price Indexes (HPI) reveal that only two provinces have seen a major correction. The rest are either near record highs or just off them, despite the sharp shift in fundamentals.\u00a0<\/p>\n<p>All But One Canadian Province Saw Home Prices Rise Last Month\u00a0<\/p>\n<p>Canadian real estate prices, 1-month change.\u00a0<\/p>\n<p>Source: CREA; Better Dwelling.\u00a0<\/p>\n<p>The <a href=\"https:\/\/betterdwelling.com\/canadian-real-estate-demand-balance-hits-weakest-level-since-1995\/\" rel=\"nofollow noopener\" target=\"_blank\">national composite price climbed 0.3% (-$2.0k) to $666.4k in April<\/a>, moving higher for a third straight month. This isn\u2019t surprising since only one provincial HPI fell last month. That province was New Brunswick, where prices slipped 1.5% (-$5.0k).\u00a0\u00a0<\/p>\n<p>The remaining eight provincial HPIs moved higher, led by Newfoundland (+1.6%), Alberta (+0.9%), and Nova Scotia (+0.8%).<\/p>\n<p>Canada Has Only Seen Real Estate Prices Correct In Two Provinces\u00a0<\/p>\n<p>Canadian real estate prices: Change from record high to April 2026, in percent.\u00a0<\/p>\n<p>Source: CREA; Better Dwelling.\u00a0<\/p>\n<p>The price of a typical home is 20.8% (-$174.9k) lower than the record set in March 2022. It\u2019s a substantial correction following one of the frothiest markets in history, but most Canadians are unlikely to have noticed a correction. The entire decline is almost entirely due to a correction in two of the country\u2019s most expensive provinces.\u00a0<\/p>\n<p>The vast majority of provinces have barely budged, with 4 of the 9 HPIs now sitting at record highs\u2014including Nova Scotia, Quebec, Saskatchewan, and Newfoundland. PEI might as well be considered a record at just 0.1% below its all-time high. Another two are just a few points off record highs: Alberta (-2.6%) and New Brunswick (-3.5%). The most extreme correction in 7 out of 9 provinces is a 3.5% drop. That would require an absurd correction in the remaining two provinces to print a 20.8% national decline, right?\u00a0<\/p>\n<p>That\u2019s exactly what happened. The price of a typical home in BC is 14.9% below its 2022 peak. That leaves just one province with enough downward pressure that brings the whole index lower\u2014Ontario, where a typical home is still 25.3% lower than its 2022 peak.\u00a0<\/p>\n<p>Virtually the whole narrative around a national correction is entirely based on just two provinces. This is a little odd, since this undermines the progress claimed by policymakers on advancing housing affordability. Home prices were climbing due to rapid population growth and a near-zero interest policy. Now that neither of those are true, these provinces still haven\u2019t seen prices pull back. For now, at least.\u00a0<\/p>\n<p>\n\tYou Might Also Like<\/p>\n","protected":false},"excerpt":{"rendered":"Canadian policymakers have apparently offset any downward pressure from changing fundamentals. Canadian Real Estate Association (CREA) data shows&hellip;\n","protected":false},"author":2,"featured_media":687253,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-687252","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/687252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=687252"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/687252\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/687253"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=687252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=687252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=687252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}