Canadian Real Estate Prices To See An “Unprecedented Decline”: TD

TD is calling a sharp drop for Canadian home prices after the huge pandemic run-up. Their forecast shows home prices falling up to 25% in their base case, from the peak (Q1 2022) to trough (Q2 2023). Unlike the 2017-2018 correction, the bank sees price declines extending to condo apartments as well.

It’s a substantial drop in home prices but not enough to correct the run up following 2020 rate cuts. 

Read the Article on home price declines