The original video is in Russian. This English companion guide puts the housing-price data into context for GTA buyers and sellers.
What does the international data show?
The Bank for International Settlements (BIS) reported that Canadian inflation-adjusted home prices fell approximately 7% year over year in Q1 2026. This is a national real-price measure; it does not mean that every property declined by 7%.
In CREA's September 2026 statistics, the national MLS® HPI was down 3.4% from a year earlier. These results are not interchangeable: they use different measures, time periods and inflation treatment.
Real prices versus the dollar prices on listings
- Nominal price: the number of dollars a buyer pays for a home.
- Real price: a measure adjusted for changes in the purchasing power of money.
- Average selling price: can move as the mix of properties sold changes.
- Home price index: aims to track price changes across comparable properties, subject to its methodology.
A claim that prices are “down X%” needs a reference date, geographic area and clearly identified measure to be meaningful.
Why the GTA correction deserves attention
Canadian Department of Finance material using April 2026 data showed Toronto's city-level home price index 26.2% below its peak and Hamilton's 28.5% below its peak. These are city-level peak comparisons, not annual declines or estimates for individual homes.
Within the GTA, a Mississauga condominium, a Milton townhouse and an Oakville detached home can move very differently. Property condition, recent comparable sales, competing inventory, borrowing costs and seller motivation all matter.
What should buyers and sellers do?
- Buyers: review recent comparable sales, financing costs, property carrying costs and remaining cash reserves.
- Sellers: price against today's active competition and completed transactions, not only the 2022 peak.
- Move-up buyers: consider the price gap between the home you sell and the home you buy, not just the proceeds from one transaction.
What to watch next
Monitor new listings, sales volumes, months of supply, borrowing rates and sold prices for your city and property type. The site's GTA market statistics provide more local context.
Sources: BIS Q1 2026 housing statistics; CREA September 2026 statistics; Department of Finance city-level price comparisons.
Want a neighbourhood-level price analysis?
Victoria can review recent comparable sales, competing listings and pricing trends in your GTA neighbourhood and property category.
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