Interest rate hikes prompt modest decline in Canadian home prices, but no freefall in sight, impact uneven
Alberta bucked the trend and experienced price increases in many markets this year, while other Prairie provinces held steady.
- Alberta bucked the trend and experienced price increases in many markets this year, while other Prairie provinces held steady.
- Notably, most markets that did experience price declines from last year remained roughly equivalent to their 2021 benchmarks and well above earlier years.
- Growth was modest but steady over the first half of 2023, and regions that saw declines dipped no further than 2020 levels.
- Edmonton condos were among those to decline, a potential sign of younger and newer buyers being affected by rising interest rates.