From prices to sales, 2022 wasn\u0027t a bad year for the Canadian housing market and, looking at the data, 2023 should be better. Read more here
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For starters, average residential prices were up 2.4 per cent in 2022 relative to 2021. Average prices were up by double digits in Quebec, New Brunswick, Nova Scotia, and Prince Edward Island, and they also increased 6.8 and 7.5 per cent in Ontario and British Columbia, respectively. But a longer-term comparison shows the benchmarked price in December was up 33 per cent over three years and 29.7 per cent over five years. The five-year gains were higher for less populous towns in Ontario and the Maritimes. Calgary is one big city that has been marching to a similar tune, with the benchmark price on the rise.
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