Biggest Monthly Price Drop since Last Year, Over $40K. 2023 Canadian Real Estate Market

The latest national statistics for July released by CREA shows steep price declines in July adding to the almost perfect head and shoulders pattern that has formed. Can the Canadian Government really make affordable homes for buyers waiting to enter the market without decreasing current owners values?

links/references:

https://globalnews.ca/news/9888297/canada-losing-construction-jobs-housing-shortage/

https://www.cmhc-schl.gc.ca/blog/2023/lower-house-prices-less-supply-projected-2023#:~:text=We%20project%20housing%20starts%20to,there%20are%20fewer%20options%20available.

https://www.mpamag.com/ca/mortgage-industry/industry-trends/canada-housing-starts-likely-to-remain-sluggish-suggests-chba-chief/449732

https://www.bnnbloomberg.ca/canada-wants-to-make-homes-affordable-without-crushing-prices-1.1957441.amp.html

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1710000901

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3410013501