Upward momentum served to mitigate the decline in detached housing values in the first half of the year, but average price fell short of last year’s levels in most neighbourhoods throughout the Greater Toronto Area (GTA), Greater Vancouver and the Fraser Valley, according to a new report from RE/MAX Canada.

Highlights

  • 93% of markets analyzed posted a decline in detached housing values in the first six months of 2023.
  • Despite higher interest rates, homebuyers in Toronto and Vancouver engaged in the market in the first half of 2023, taking advantage of lower prices.
  • Detached home sales fell in 95% of markets surveyed.
  • Affordability was the most significant driver influencing buying activity in the first half of the year.

Download Tables

Regional Market Insights

View the interactive report on remax.ca and click the icons to discover the latest home-buying activity in British Columbia and Ontario.

Social Shareables

There are graphics and reels available for you to download and share on your social channels to help keep your clients and network informed on the latest RE/MAX report.