We’re seeing a significant shift in the landscape of Vancouver and Toronto’s real estate markets. Toronto experienced an 11% drop in home prices over the past year—the most dramatic decrease among 23 major cities—and prices are now nearly 30% below their peak. Vancouver followed with a 10% annual decline and is down 20% since 2022. These changes are largely driven by higher interest rates, the foreign-buyer ban, and increased supply. As someone who prioritizes thoughtful guidance and in-depth market insights, I pay close attention to trends like these because they shape the opportunities and challenges for every buyer, seller, and investor. If you’re thinking about your next step, understanding these shifts is essential for making confident decisions in today’s evolving market.
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