Canada's housing market is slowly bouncing back but prices are way down in Toronto

Though the number of home sales in April was 19 per cent lower than the same time last year, it was up 11.3 per cent compared to the month prior, which is a noted spike.

Still, despite a gradual recovery, prices in many major cities are down year-over-year rather than up; in Toronto, the average home clocked in at 8.3 per cent less last month than in April 2022, per CREA numbersThe 6ix is still leading the Canadian market as far as price point, with an average price of $1,102,749, beat out only by Vancouver, where prices are down 3.7 per cent year-over-year and the typical home now costs $1,241,317.

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