{"id":748289,"date":"2026-06-19T23:42:08","date_gmt":"2026-06-19T23:42:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/748289\/"},"modified":"2026-06-19T23:42:08","modified_gmt":"2026-06-19T23:42:08","slug":"canadian-home-prices-hit-record-highs-in-most-provinces-bc-on-drag","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/748289\/","title":{"rendered":"Canadian Home Prices Hit Record Highs In Most Provinces, BC &#038; ON Drag"},"content":{"rendered":"<p class=\"wp-block-paragraph\">What housing slump? <a href=\"https:\/\/www.crea.ca\/\" rel=\"nofollow noopener\" target=\"_blank\">Canadian Real Estate Association (CREA)<\/a> data shows prices in all but one province climbed in May. The national index tells a different story. A gap between the headline number and what\u2019s actually happening across most of the country, deserves a much closer look.\u00a0<\/p>\n<p>Canadian Real Estate Prices Are Moving Higher\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The price of a typical home rose 0.2% (+$1.5k) to $667,700 in May. It marked the fourth straight monthly gain, adding 1.5% (+$10.0k) over that stretch and pushing prices to their highest point since October 2025. The market didn\u2019t need higher sales or even tighter inventory, just easy credit and a firm desire to pay more.\u00a0\u00a0<\/p>\n<p class=\"wp-block-paragraph\">It\u2019s too early to call this a recovery\u2014nationally, at least. Prices remain 4.1% (-$28.7k) below last year and 20.6% (-$173.6k) below the March 2022 peak, a long walk for any peak buyers still looking to be made whole.\u00a0<\/p>\n<p>Newfoundland Home Prices Jumped 5-Digits, Only Decline In Quebec<\/p>\n<p class=\"wp-block-paragraph\">CREA House Price Index (HPI): The price of a typical home by province, percent change in May.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Source: CREA; Better Dwelling.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">All but one of the nine provinces with CREA HPIs showed prices climb in May. Newfoundland led with a five-digit jump, up 3.1% (+$10.5k) for the month. Saskatchewan followed at 1.8% (+$6.8k), then New Brunswick at 1.2% (+$4.1k). Quebec was the only province to move lower, shedding 0.6% (-$3.4k) from the record high it set a month prior\u2014the lone dissent in a market that fell in line.\u00a0<\/p>\n<p>Newfoundland Is Canada\u2019s Best Performing Market In The Past Year<\/p>\n<p class=\"wp-block-paragraph\">The annual picture is more concentrated. Newfoundland leads with prices 11.3% (+$35.6k) higher than last year, followed by New Brunswick at 10.1% (+$32.6k). The drop-off after that is steep\u2014Saskatchewan ranked third with just 3.8% (+$13.9k) growth, less than half the rate of second-place.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Three provinces posted annual declines. Ontario led the losses at 5.5% (-$44.1k), BC at 5.2% (-$49.0k), and Alberta at 2.3% (-$12.0k). Even the steepest drops were modest\u2014which makes what\u2019s happening at the national level even harder to explain.\u00a0<\/p>\n<p>Canadian Home Prices At Record Highs In Most Provinces\u00a0<\/p>\n<p class=\"wp-block-paragraph\">CREA HPI: The price of a typical home by province, percent change from record high.<\/p>\n<p class=\"wp-block-paragraph\">Source: CREA; Better Dwelling.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Home prices hit a fresh high in 5 of 9 provinces. Two more are within striking distance: Quebec sits just 0.6% (-$3.4k) below its peak, Alberta just 2.3% (-$12.3k) below its own. Yet the price of a \u201ctypical\u201d Canadian home is down 20.6% from peak\u2014a number that demands an explanation.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">It has one. Sort of. In BC, prices remain 14.9% (-$155.5k) below their 2022 high. In Ontario, prices are 24.8% (-$250.2k) lower\u2014the only province where the correction is deeper than the national figure itself. It\u2019s the only reason the headline number looks worse than what most of the country is actually experiencing.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">That raises questions about how the national composite model is weighted. Either transaction volumes are thin in the provinces where prices are climbing\u2014making those moves unreliable\u2014or the index remains overly anchored to Ontario, even as sales have collapsed.\u00a0<\/p>\n<p>\n\tYou Might Also Like<\/p>\n","protected":false},"excerpt":{"rendered":"What housing slump? Canadian Real Estate Association (CREA) data shows prices in all but one province climbed in&hellip;\n","protected":false},"author":2,"featured_media":748290,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-748289","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\/748289","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=748289"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/748289\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/748290"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=748289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=748289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=748289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}