T
he Canadian Real Estate Association's National Composite MLS Home Price Index provides a benchmark for the country's housing market. According to the latest figures from June, single-family detached home prices across Canada have been slowly deflating over the past four months, but still stand at $776,400, 18% lower than their peak in 2022.

    While some markets are experiencing price growth, others are seeing properties available at relatively low prices. For example, in British Columbia's interior, a single-family home can be found for around $802,200, down 7.9% from its peak in April 2022. In the Okanagan region, a four-bedroom home with over 2,100 square feet of living space is selling for $779,900.

    In Alberta, the average single-family home price has grown by 38% since the end of 2019, but still remains below the national figure at $522,200. In Calgary, prices are around $694,000, making it possible to find a single-story bungalow or split level on a modest lot for under $780,000.

    Ontario's single-family homes have grown by just 12.4% from 2019 to June, with the province's most expensive market being Greater Toronto, where the benchmark price is $1.2 million. Outside of this area, prices are lower, such as in Kitchener-Waterloo, where a detached home can be found for around $805,600.

    In Quebec, detached homes have risen by 47% from the end of 2019 to June's $600,200 benchmark. The Montreal area has a benchmark price of $684,800, making it possible to find larger properties with more land at the national benchmark price.

    The Maritimes are experiencing varying levels of price growth, with New Brunswick seeing remarkable growth of almost 94% from 2019. In comparison, Newfoundland's growth is sluggish at just 44%. To find a house near the national benchmark in the Maritimes, look to the Moncton area in New Brunswick, where properties like a 3,000-square-foot home on a 2.1-acre lot are available for around $779,000.