Canadian home prices wrap up 2022 down slightly over previous year, but remain above pre-pandemic levels

January 16, 2023 by Claude Jobin

Royal LePage released its 2022 fourth-quarter House Price Survey.

Highlights:

National aggregate home price down 2.8% in Q4 2022 vs. the prior year; first year-over-year decline recorded in more than a decade
Prices remain above pre-pandemic levels: Canada’s Q4 2022 national aggregate home price has appreciated 13.8% vs. Q4 2020, and 17.2% vs. Q4 2019
Greater regions of Toronto and Vancouver record year-over-year aggregate price declines of 4.6% and 3.5% respectively in Q4 2022, while the Greater Montreal Area posts a gain of 2.2% in the same period
Less than 1% of all homes in Canada were purchased during the peak price period of February and March, 2022

Below is the Regional Press Release for Ottawa. (scroll within the window or click the link below for a full sized version)

Ottawa RoyalLePage House Price Survey Q4 2022 EN

Click here to review all quarterly reports since 2011.

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Canadian home prices wrap up 2022 down slightly over previous year, but remain above pre-pandemic levels

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