Detached home prices, which had shown resilience through September, stalled. Townhouse values slipped 1%, semi-detached homes dipped 2%, and condo prices dropped 6% year-over-year.
“We saw more softness setting into the Canadian housing market at the national level this fall, with previously more resilient single-family home prices dipping,” RPS-Wahi economist Ryan McLaughlin said.
“However, the national numbers mask surprising and sustained strength in certain regions,” he added.
Regional winners and laggards
Quebec City and Winnipeg emerged as the country’s hottest housing markets, each posting an 11% annual price gain in October.
Recent Wahi research pointed to “relative affordability and more favourable regional economic conditions” as key drivers, while supply-side constraints — especially Quebec City’s shift toward purpose-built rentals — have intensified competition for ownership housing.