Home prices fall 6.6% from last year with sales diving 32.2%

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Home sales fell by 3.9 per cent on a month-over-month basis in September and the MLS Home Price Index fell by 1.4 per cent as markets continued to adjust to higher borrowing costs, according to figures released Friday by the Canadian Real Estate Association (CREA). 

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While the price index still showed a 3.3 per cent gain over 2021, the actual national average home price was $640,479 in September 2022, down 6.6 per cent from the same month last year.

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