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Canada set for ‘unprecedented’ home price drop by early 2023: TD Bank

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TD Bank suggests the average price of a home in Canada could fall 20 to 25 per cent from its peak seen earlier this year to the first quarter of 2023.The report also estimates the number of home sales will fall 35 per cent over the same time period.TD economist Rishi Sondhi says the projected price drop represents an “unprecedented decline” at least going as far back as the late 1980s, when the data began, but it follows an unequally unprecedented rise during the pandemic.

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