Where in Canada's hottest housing markets are values still rising?

GTA

For the GTA, values in the second quarter of 2022 were down 10-15% from the previous quarter.

The Central and West End of the 416 held up relatively well in terms of average price according to an analysis of 60 Toronto Regional Real Estate Board data, but just 15% of the region’s markets posted quarter-over-quarter gains.

Those with homes in the Durham (-14.6%), York (-12.9%), Halton (-12.7%), Dufferin (-12%) and Peel (-11.2%) areas will likely have found some of the gains they have made in recent years have been erased by declining prices.

“Given that the core has traditionally been more resilient, bolstered by strong demand, a finite supply of homes available for sale, higher household incomes, and greater equity at the top end of the market, the results are not unexpected,” said Christopher Alexander, president of RE/MAX Canada. “The price softening was clearly more evident in suburban areas and the outer perimeters of the 416, most of which experienced strong upward momentum during the height of the pandemic as buyers sought to leave the city.”

GVA

Meanwhile, in the GVA, the 2022 RE/MAX Hot Pocket Communities Report is based on an analysis of 16 regions within the Real Estate Board of Greater Vancouver and six areas in the Fraser Valley Real Estate Board.