{"id":7027353,"date":"2026-08-04T20:10:12","date_gmt":"2026-08-04T20:10:12","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/canadas-housing-downturn-east-coast-prices-jump-up-to-28k-in-a-month\/"},"modified":"2026-08-04T20:10:12","modified_gmt":"2026-08-04T20:10:12","slug":"canadas-housing-downturn-east-coast-prices-jump-up-to-28k-in-a-month","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=7027353","title":{"rendered":"Canada\u2019s Housing \u201cDownturn\u201d: East Coast Prices Jump Up To $28k In A Month"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div itemprop=\"mainEntityOfPage\">\n<p class=\"wp-block-paragraph\">If Canadian real estate is in a correction, it forgot to tell buyers in most provinces. <a href=\"https:\/\/www.crea.ca\/\">CREA<\/a> data shows the price of a typical home fell nationally in June, even as most of its 9 provincial benchmarks climbed to new highs. In Atlantic Canada, two provinces even made 5-digit jumps over 30 days. You know? Like any totally normal real estate correction.\u00a0<\/p>\n<h2 class=\"wp-block-heading\"><strong>Canadian Home Prices Down 21%, But Most Provinces Haven\u2019t Heard<\/strong><\/h2>\n<p class=\"wp-block-paragraph\">Let\u2019s quickly review the national picture for those who need a refresher. The price of a typical home across Canada slipped 0.3% (-$1,900) to $665,600 in June, down 3.6% (-$24,700) from last year and 20.9% (-$175,500) from its March 2022 peak. However, as regular readers have realized, most provinces haven\u2019t seen any correction.\u00a0<\/p>\n<div class=\"wp-block-group\">\n<div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group\">\n<div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group\">\n<div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<h2 class=\"wp-block-heading\"><strong>Canadian Home Prices Surge In The East Coast, Drop in Ontario &amp; BC<\/strong><\/h2>\n<p class=\"wp-block-paragraph\"><em>Canadian home prices, by province: 1-month change in dollars.\u00a0<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\"><em>Source: CREA; Better Dwelling.\u00a0<\/em><\/p>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">Despite the national benchmark falling in June, home prices rose in most provinces\u2014sharply in some cases. PEI led with a massive 7.5% (+$28,833) jump in just 30 days, followed by Nova Scotia at 5.2% (+$23,026), and Newfoundland at 2.3% (+$8,100). All three top performers were in Atlantic Canada, with prices surging even as two of those provinces saw their populations shrink.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Atlantic Canada also led the way lower. New Brunswick home prices fell 1.8% (-$6,230) in June, the largest monthly drop in Canada. It\u2019s the first province in the region to show signs of cooling\u2014and one worth watching in case the weakness spreads. Maybe <a href=\"https:\/\/nationalpost.com\/opinion\/canada-pledges-200-million-to-space-port-that-is-just-a-concrete-pad-in-nova-scotia\">they just need a spaceport or two<\/a>?<\/p>\n<p class=\"wp-block-paragraph\">The other two provinces rounding out the declines were familiar names at this end of the list. Ontario\u2019s benchmark fell 0.5% (-$3,600), while BC prices slipped 0.2% (-$2,100), marking the second- and third-largest declines.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Over the past year, prices rose in six of the nine provinces with benchmark indexes\u2014including all four in Atlantic Canada. Newfoundland leads with a 10.8% (+$34,900), followed by PEI at 9.0% (+$34,133), New Brunswick at 7.0% (+$22,570), and Nova Scotia at 6.2% (+$27,026).\u00a0\u00a0<\/p>\n<div class=\"wp-block-group\">\n<div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group\">\n<div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<h2 class=\"wp-block-heading\"><strong>Home Prices In Most Provinces Are At Record Highs<\/strong><\/h2>\n<p class=\"wp-block-paragraph\"><em>Canadian home prices, by province: percentage change from record high.<\/em><\/p>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\"><em>Source: CREA; Better Dwelling.\u00a0<\/em><\/p>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">What correction? Most provinces with a benchmark index are either at, or within, 0.1% of their record high: Newfoundland, Nova Scotia, PEI, Quebec, and Saskatchewan. Two more are roughly 2% below their peaks\u2014New Brunswick at 1.8% lower, while Alberta is off by 2.1%. Yet the price of a typical home across Canada is supposedly down 20.9% from the peak. Right?\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Apparently, the only real downturn is in two provinces. BC\u2019s benchmark home price was 15.0% (-$156,100) below its peak last month\u2014a substantial drop, but still smaller than the national decline. One province is doing most of the heavy lifting (or is it heavy dropping?): Ontario, where prices are down 25.2% (-$253,800) from their March 2022 peak. In hindsight, policymakers are cranking out an extraordinary amount of demand stimulus for a \u201ccorrection\u201d largely confined to two provinces.\u00a0<\/p>\n<p><h3 class=\"jp-relatedposts-headline\"><em>You Might Also Like<\/em><\/h3>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>If Canadian real estate is in a correction, it forgot to tell buyers in most provinces. CREA data shows the price of a typical home fell nationally in June, even as most of its 9 provincial benchmarks climbed to new highs. In Atlantic Canada, two provinces even made 5-digit jumps over 30 days. You know? [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7027354,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99],"tags":[191090,20079,11509,28471,5971,13350,2196,5491,11567],"dealstore":[],"offerexpiration":[],"class_list":["post-7027353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-28k","tag-canadas","tag-coast","tag-downturn","tag-east","tag-housing","tag-jump","tag-month","tag-prices"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Canada\u2019s Housing \u201cDownturn\u201d: East Coast Prices Jump Up To $28k In A Month - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=7027353\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canada\u2019s Housing \u201cDownturn\u201d: East Coast Prices Jump Up To $28k In A Month - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"If Canadian real estate is in a correction, it forgot to tell buyers in most provinces. 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