{"id":314114,"date":"2025-12-16T09:27:49","date_gmt":"2025-12-16T14:27:49","guid":{"rendered":"https:\/\/wahi.com\/ca\/en\/?p=314114"},"modified":"2026-03-16T14:21:28","modified_gmt":"2026-03-16T18:21:28","slug":"national-house-price-index-declines-for-first-time-since-2023","status":"publish","type":"post","link":"https:\/\/wahi.com\/ca\/en\/learning-centre\/real-estate-101\/buy\/rps-wahi-house-price-index-november-2025\/","title":{"rendered":"National House Price Index Declines for First Time Since 2023"},"content":{"rendered":"\n[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||3px|||&#8221; da_disable_devices=&#8221;off|off|off&#8221; global_colors_info=&#8221;{}&#8221; da_is_popup=&#8221;off&#8221; da_exit_intent=&#8221;off&#8221; da_has_close=&#8221;on&#8221; da_alt_close=&#8221;off&#8221; da_dark_close=&#8221;off&#8221; da_not_modal=&#8221;on&#8221; da_is_singular=&#8221;off&#8221; da_with_loader=&#8221;off&#8221; 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url=&#8221;https:\/\/www.facebook.com\/wahiinc\/&#8221; icon_color=&#8221;#BC4E40&#8243; _builder_version=&#8221;4.20.2&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;RGBA(255,255,255,0)&#8221; background_enable_color=&#8221;on&#8221; global_colors_info=&#8221;{}&#8221; follow_button=&#8221;off&#8221; url_new_window=&#8221;on&#8221;]facebook[\/et_pb_social_media_follow_network][\/et_pb_social_media_follow][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;15px||0px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.6em&#8221; header_2_font=&#8221;||||||||&#8221; header_2_font_size=&#8221;36px&#8221; header_2_line_height=&#8221;1.3em&#8221; header_3_font_size=&#8221;1.25rem&#8221; header_3_line_height=&#8221;1.88rem&#8221; header_4_font=&#8221;|700|||||||&#8221; header_4_font_size=&#8221;1.25rem&#8221; header_4_line_height=&#8221;1.88rem&#8221; hover_enabled=&#8221;0&#8243; text_font_size_tablet=&#8221;21px&#8221; text_font_size_phone=&#8221;16px&#8221; text_font_size_last_edited=&#8221;on|desktop&#8221; header_2_font_size_tablet=&#8221;36px&#8221; header_2_font_size_phone=&#8221;25px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243;]<p><span style=\"font-weight: 400;\">Canadian home prices took a tumble on a year-over-year basis this November as a fourth major housing market entered negative territory. <\/span><\/p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.6em&#8221; header_2_font=&#8221;||||||||&#8221; header_2_font_size=&#8221;36px&#8221; header_2_line_height=&#8221;1.3em&#8221; header_3_font_size=&#8221;1.25rem&#8221; header_3_line_height=&#8221;1.88rem&#8221; header_4_font=&#8221;|700|||||||&#8221; header_4_font_size=&#8221;1.25rem&#8221; header_4_line_height=&#8221;1.88rem&#8221; custom_margin=&#8221;||11px|||&#8221; text_font_size_tablet=&#8221;21px&#8221; text_font_size_phone=&#8221;16px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_2_font_size_tablet=&#8221;36px&#8221; header_2_font_size_phone=&#8221;25px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;]<p>By <a href=\"https:\/\/wahi.com\/ca\/en\/author\/josh-shermanwahi-com\">Josh Sherman<\/a><span style=\"font-weight: 400\">\u00a0<\/span>| 4 minute read<\/p>[\/et_pb_text][et_pb_post_title title=&#8221;off&#8221; author=&#8221;off&#8221; categories=&#8221;off&#8221; comments=&#8221;off&#8221; featured_image=&#8221;off&#8221; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;||26px|||&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_post_title][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||3px|||&#8221; da_disable_devices=&#8221;off|off|off&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221; da_is_popup=&#8221;off&#8221; da_exit_intent=&#8221;off&#8221; da_has_close=&#8221;on&#8221; da_alt_close=&#8221;off&#8221; da_dark_close=&#8221;off&#8221; da_not_modal=&#8221;on&#8221; da_is_singular=&#8221;off&#8221; da_with_loader=&#8221;off&#8221; da_has_shadow=&#8221;on&#8221;][et_pb_row _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; width_tablet=&#8221;&#8221; width_phone=&#8221;100%&#8221; width_last_edited=&#8221;on|desktop&#8221; custom_padding=&#8221;0px||9px|||&#8221; global_colors_info=&#8221;{}&#8221; width__hover_enabled=&#8221;off|desktop&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_image src=&#8221;@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9mZWF0dXJlZF9pbWFnZSIsInNldHRpbmdzIjp7fX0=@&#8221; align=&#8221;center&#8221; force_fullwidth=&#8221;on&#8221; _builder_version=&#8221;4.27.4&#8243; _dynamic_attributes=&#8221;src&#8221; _module_preset=&#8221;default&#8221; custom_margin=&#8221;1px||29px|||&#8221; border_radii=&#8221;on|32px|32px|32px|32px&#8221; border_radii_tablet=&#8221;on|32px|32px|32px|32px&#8221; border_radii_phone=&#8221;on|0px|0px|0px|0px&#8221; border_radii_last_edited=&#8221;on|desktop&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][et_pb_text _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;1.13rem&#8221; text_line_height=&#8221;1.75rem&#8221; custom_margin=&#8221;-18px||2px|||&#8221; custom_padding=&#8221;||7px||false|true&#8221; custom_padding_tablet=&#8221;||7px||false|true&#8221; custom_padding_phone=&#8221;|15px|7px|15px|false|true&#8221; custom_padding_last_edited=&#8221;on|phone&#8221; text_font_size_tablet=&#8221;1.13rem&#8221; text_font_size_phone=&#8221;0.9rem&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<p><span style=\"font-weight: 400\">The RPS-Wahi House Price Index, created by Real Property Solutions and presented by Wahi, is a trusted indicator of Canadian home price trends.<\/span><\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;32px||23px|||&#8221; da_disable_devices=&#8221;off|off|off&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221; da_is_popup=&#8221;off&#8221; da_exit_intent=&#8221;off&#8221; da_has_close=&#8221;on&#8221; da_alt_close=&#8221;off&#8221; da_dark_close=&#8221;off&#8221; da_not_modal=&#8221;on&#8221; da_is_singular=&#8221;off&#8221; da_with_loader=&#8221;off&#8221; da_has_shadow=&#8221;on&#8221;][et_pb_row _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;11px||14px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.6em&#8221; header_2_font=&#8221;||||||||&#8221; header_2_font_size=&#8221;36px&#8221; header_2_line_height=&#8221;1.3em&#8221; header_3_font_size=&#8221;1.25rem&#8221; header_3_line_height=&#8221;1.88rem&#8221; header_4_font=&#8221;|700|||||||&#8221; header_4_font_size=&#8221;1.25rem&#8221; header_4_line_height=&#8221;1.88rem&#8221; text_font_size_tablet=&#8221;21px&#8221; text_font_size_phone=&#8221;16px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_2_font_size_tablet=&#8221;36px&#8221; header_2_font_size_phone=&#8221;25px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;]<p><span style=\"font-weight: 400;\">Wahi, a leading Canadian real estate platform, and Real Property Solutions (RPS), the foremost Canadian provider of property valuation services, today released their monthly house price index for November 2025.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><br \/>In November, the national RPS-Wahi House Price Index \u2014 which is based on the latest monthly actual home values in 1,000 towns and cities across the country \u2014 registered a year-over-year decline after several consecutive months of flat prices.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><br \/><br \/><br \/>The index last month was down 1% relative to November 2024, marking the first time since mid-2023 that national home prices declined on an annual basis.\u00a0<br \/><br \/><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>[\/et_pb_text][et_pb_text content_tablet=&#8221;<p><iframe title=%22Canadian Home Price Trends: RPS House Price Index%22 aria-label=%22Line chart%22 id=%22datawrapper-chart-3xEfR%22 src=%22https:\/\/datawrapper.dwcdn.net\/3xEfR\/1\/%22 scrolling=%22no%22 frameborder=%220%22 style=%22width: 0; 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content_last_edited=&#8221;on|phone&#8221; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.6em&#8221; header_2_font=&#8221;||||||||&#8221; header_2_font_size=&#8221;36px&#8221; header_2_line_height=&#8221;1.3em&#8221; header_3_font_size=&#8221;1.25rem&#8221; header_3_line_height=&#8221;1.88rem&#8221; header_4_font=&#8221;|700|||||||&#8221; header_4_font_size=&#8221;1.25rem&#8221; header_4_line_height=&#8221;1.88rem&#8221; text_font_size_tablet=&#8221;21px&#8221; text_font_size_phone=&#8221;16px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_2_font_size_tablet=&#8221;36px&#8221; header_2_font_size_phone=&#8221;25px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;]<iframe title=\"Canadian Home Price Trends: RPS-Wahi House Price Index\" aria-label=\"Line chart\" id=\"datawrapper-chart-jOERi\" data-src=\"https:\/\/datawrapper.dwcdn.net\/jOERi\/2\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"487\" data-external=\"1\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;11px||14px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.6em&#8221; header_2_font=&#8221;||||||||&#8221; header_2_font_size=&#8221;36px&#8221; header_2_line_height=&#8221;1.3em&#8221; header_3_font_size=&#8221;1.25rem&#8221; header_3_line_height=&#8221;1.88rem&#8221; header_4_font=&#8221;|700|||||||&#8221; header_4_font_size=&#8221;1.25rem&#8221; header_4_line_height=&#8221;1.88rem&#8221; text_font_size_tablet=&#8221;21px&#8221; text_font_size_phone=&#8221;16px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_2_font_size_tablet=&#8221;36px&#8221; header_2_font_size_phone=&#8221;25px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;]<p><span style=\"font-weight: 400;\">The overall decline comes as the Canadian housing market continues to see pricing softness across all property types. However, declines in condo prices, down 6% year-on-year, once again outpaced what was observed in the single-family segment by a large margin. Prices were unchanged from a year ago for detached homes, down 1% for row\/townhouses, and 2% for semi-detached homes.<\/span><span style=\"font-weight: 400;\"><\/span><\/p>[\/et_pb_text][et_pb_text content_tablet=&#8221;<p><iframe title=%22Year-Over-Year Canadian Home Price Changes by Property Type: RPS-Wahi House Price Index (October 2025)%22 aria-label=%22Column Chart%22 id=%22datawrapper-chart-BZUMc%22 src=%22https:\/\/datawrapper.dwcdn.net\/BZUMc\/1\/%22 scrolling=%22no%22 frameborder=%220%22 style=%22width: 0; min-width: 100% !important; border: none;%22 height=%22371%22 data-external=%221%22><\/iframe><br \/>\n<script type=%22text\/javascript%22>window.addEventListener(%22message%22,function(a){if(void 0!==a.data%91%22datawrapper-height%22%93){var e=document.querySelectorAll(%22iframe%22);for(var t in a.data%91%22datawrapper-height%22%93)for(var r,i=0;r=e%91i%93;i++)if(r.contentWindow===a.source){var d=a.data%91%22datawrapper-height%22%93%91t%93+%22px%22;r.style.height=d}}});<\/script>\n<\/p>&#8221; content_phone=&#8221;<iframe title=%22Year-Over-Year Canadian Home Price Changes by Property Type: RPS-Wahi House Price Index (October 2025)%22 aria-label=%22Column Chart%22 id=%22datawrapper-chart-BZUMc%22 src=%22https:\/\/datawrapper.dwcdn.net\/BZUMc\/1\/%22 scrolling=%22no%22 frameborder=%220%22 style=%22width: 0; min-width: 100% !important; border: none;%22 height=%22500%22 data-external=%221%22><\/iframe>\n<script type=%22text\/javascript%22>window.addEventListener(%22message%22,function(a){if(void 0!==a.data%91%22datawrapper-height%22%93){var e=document.querySelectorAll(%22iframe%22);for(var t in a.data%91%22datawrapper-height%22%93)for(var r,i=0;r=e%91i%93;i++)if(r.contentWindow===a.source){var d=a.data%91%22datawrapper-height%22%93%91t%93+%22px%22;r.style.height=d}}});<\/script>&#8221; content_last_edited=&#8221;on|phone&#8221; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.6em&#8221; header_2_font=&#8221;||||||||&#8221; header_2_font_size=&#8221;36px&#8221; header_2_line_height=&#8221;1.3em&#8221; header_3_font_size=&#8221;1.25rem&#8221; header_3_line_height=&#8221;1.88rem&#8221; header_4_font=&#8221;|700|||||||&#8221; header_4_font_size=&#8221;1.25rem&#8221; header_4_line_height=&#8221;1.88rem&#8221; text_font_size_tablet=&#8221;21px&#8221; text_font_size_phone=&#8221;16px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_2_font_size_tablet=&#8221;36px&#8221; header_2_font_size_phone=&#8221;25px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;]<iframe title=\"Canadian Home Price Trends by Property Type: RPS-Wahi House Price Index (November 2025)\" aria-label=\"Line chart\" id=\"datawrapper-chart-572Ux\" data-src=\"https:\/\/datawrapper.dwcdn.net\/572Ux\/1\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"554\" data-external=\"1\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.6em&#8221; header_2_font=&#8221;||||||||&#8221; header_2_font_size=&#8221;36px&#8221; header_2_line_height=&#8221;1.3em&#8221; header_3_font_size=&#8221;1.25rem&#8221; header_3_line_height=&#8221;1.88rem&#8221; header_4_font=&#8221;|700|||||||&#8221; header_4_font_size=&#8221;1.25rem&#8221; header_4_line_height=&#8221;1.88rem&#8221; text_font_size_tablet=&#8221;21px&#8221; text_font_size_phone=&#8221;16px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_2_font_size_tablet=&#8221;36px&#8221; header_2_font_size_phone=&#8221;25px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;]<p><span style=\"font-weight: 400;\">\u201cWhile we\u2019ve seen increased downward pressure on single-family home prices nationally, across most of Canada\u2019s largest urban centres, pricing for these housing types remains up or roughly flat relative to last year,\u201d says RPS-Wahi Economist Ryan McLaughlin.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><br \/><br \/><br \/>Canada\u2019s largest markets account for the lion\u2019s share of housing activity, weighing on the national index readings, he notes.\u00a0\u00a0<\/p>\n<p>&nbsp;<\/p>\n<h2><b>Victoria Joins Hamilton, Toronto, and Vancouver in Price Declines\u00a0\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><span style=\"font-size: 21px;\"><span style=\"font-weight: 400;\">This November, Victoria became the fourth market this year to see annual price declines among the 13 major metro areas that were analyzed in addition to the national RPS-Wahi House Price Index. However, the 1% dip in year-over-year prices in Victoria wasn\u2019t as pronounced as the sustained declines observed in Hamilton, Toronto, and Vancouver for much of the year. <\/span><\/span><\/p>[\/et_pb_text][et_pb_text content_tablet=&#8221;<p><iframe title=%22Prices Climb in 10 Canadian Cities (October 2025)%22 aria-label=%22Column Chart%22 id=%22datawrapper-chart-UjB20%22 src=%22https:\/\/datawrapper.dwcdn.net\/UjB20\/1\/%22 scrolling=%22no%22 frameborder=%220%22 style=%22width: 0; min-width: 100% !important; border: none;%22 height=%22553%22 data-external=%221%22><\/iframe><br \/>\n<script type=%22text\/javascript%22>window.addEventListener(%22message%22,function(a){if(void 0!==a.data%91%22datawrapper-height%22%93){var e=document.querySelectorAll(%22iframe%22);for(var t in a.data%91%22datawrapper-height%22%93)for(var r,i=0;r=e%91i%93;i++)if(r.contentWindow===a.source){var d=a.data%91%22datawrapper-height%22%93%91t%93+%22px%22;r.style.height=d}}});<\/script>\n<\/p>&#8221; content_phone=&#8221;<iframe title=%22Prices Climb in 10 Canadian Cities (October 2025)%22 aria-label=%22Column Chart%22 id=%22datawrapper-chart-UjB20%22 src=%22https:\/\/datawrapper.dwcdn.net\/UjB20\/1\/%22 scrolling=%22no%22 frameborder=%220%22 style=%22width: 0; min-width: 100% !important; border: none;%22 height=%22600%22 data-external=%221%22><\/iframe>\n<script type=%22text\/javascript%22>window.addEventListener(%22message%22,function(a){if(void 0!==a.data%91%22datawrapper-height%22%93){var e=document.querySelectorAll(%22iframe%22);for(var t in a.data%91%22datawrapper-height%22%93)for(var r,i=0;r=e%91i%93;i++)if(r.contentWindow===a.source){var d=a.data%91%22datawrapper-height%22%93%91t%93+%22px%22;r.style.height=d}}});<\/script>&#8221; content_last_edited=&#8221;on|phone&#8221; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.6em&#8221; header_2_font=&#8221;||||||||&#8221; header_2_font_size=&#8221;36px&#8221; header_2_line_height=&#8221;1.3em&#8221; header_3_font_size=&#8221;1.25rem&#8221; header_3_line_height=&#8221;1.88rem&#8221; header_4_font=&#8221;|700|||||||&#8221; header_4_font_size=&#8221;1.25rem&#8221; header_4_line_height=&#8221;1.88rem&#8221; text_font_size_tablet=&#8221;21px&#8221; text_font_size_phone=&#8221;16px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_2_font_size_tablet=&#8221;36px&#8221; header_2_font_size_phone=&#8221;25px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;]<iframe title=\"Prices Climb in 10 Canadian Cities (November 2025)\" aria-label=\"Column Chart\" id=\"datawrapper-chart-toUbT\" data-src=\"https:\/\/datawrapper.dwcdn.net\/toUbT\/2\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"571\" data-external=\"1\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe><script type=\"text\/javascript\">window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}});<\/script>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.6em&#8221; header_2_font=&#8221;||||||||&#8221; header_2_font_size=&#8221;36px&#8221; header_2_line_height=&#8221;1.3em&#8221; header_3_font_size=&#8221;1.25rem&#8221; header_3_line_height=&#8221;1.88rem&#8221; header_4_font=&#8221;|700|||||||&#8221; header_4_font_size=&#8221;1.25rem&#8221; header_4_line_height=&#8221;1.88rem&#8221; text_font_size_tablet=&#8221;21px&#8221; text_font_size_phone=&#8221;16px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_2_font_size_tablet=&#8221;36px&#8221; header_2_font_size_phone=&#8221;25px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;]<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s also too soon to tell whether this trend continues through to 2026, notes McLaughlin. \u201cI\u2019d caution against reading too much into one month of declining prices,\u201d he explains.<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">Looking at year-to-date market performance, Victoria\u2019s market is displaying signs of sideways momentum rather than substantial weakening. \u201cWe\u2019re going to land pretty close to the overall annual sales counts that we\u2019ve seen over the last two or three years,\u201d says Dirk VanderWal, director and committee chair of the Victoria Real Estate Board. \u201cWe\u2019re on a two-and-a-half-year run of pretty flat pricing.\u201d<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">VanderWal points out that Victoria real estate ended on a high note in the final months of 2024, so year-over-year comparisons make the market appear cooler than it is.\u00a0<br \/><br \/><br \/><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><br \/><br \/><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><span style=\"font-weight: 400;\">That said, uncertainty from ongoing trade tensions with the U.S. and the current mortgage market have kept somewhat of a lid on demand.<\/span><span style=\"font-weight: 400;\"> \u201cInterest rates have been, by historical standards, not bad over the past year, but when you\u2019ve got people who still have that fresh memory of being able to borrow money at sub-2% on a five-year fixed, 4 or 5% doesn\u2019t look that attractive,\u201d says VanderWal.<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">In general, Victoria tends to display less volatility than many other markets, a characteristic he chalks up at least partly to geographic constraints and the local workforce. Being an island, only so much supply can be added, and as the capital of B.C., Victoria retains long-term government jobs. <\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u201cWe\u2019ve got pretty stable industries that underpin the economy here,\u201d he says, also noting workforces in hospitality and at several of the island\u2019s post-secondary institutions. <\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">Outside of Victoria\u2019s November dip, regional price trends were generally consistent with previous months, with big cities in Quebec and several markets in the Prairies (excluding Calgary) leading in terms of price appreciation. <\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">In particular, Quebec City and Winnipeg continue to display the strongest gains. Better affordability relative to other metro areas and stronger economic and demographic fundamentals have <\/span><a href=\"https:\/\/wahi.com\/ca\/en\/learning-centre\/real-estate-101\/buy\/most-resilient-canadian-housing-markets-2025\/\"><span style=\"font-weight: 400;\">propped up home prices<\/span><\/a><span style=\"font-weight: 400;\"> in these cities, as well as Regina, say the market-watchers Wahi consulted in recent months. To a lesser extent, this has also been the case in <\/span><a href=\"https:\/\/wahi.com\/ca\/en\/learning-centre\/real-estate-101\/buy\/rps-wahi-house-price-index-atlantic-canada-2025\/\"><span style=\"font-weight: 400;\">Atlantic Canada<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0\u00a0<\/span><span style=\"font-weight: 400;\"><br \/><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;29px||0px|||&#8221; da_disable_devices=&#8221;off|off|off&#8221; global_colors_info=&#8221;{}&#8221; da_is_popup=&#8221;off&#8221; da_exit_intent=&#8221;off&#8221; da_has_close=&#8221;on&#8221; da_alt_close=&#8221;off&#8221; da_dark_close=&#8221;off&#8221; da_not_modal=&#8221;on&#8221; da_is_singular=&#8221;off&#8221; da_with_loader=&#8221;off&#8221; da_has_shadow=&#8221;on&#8221;][et_pb_row _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||4px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.6em&#8221; header_2_font=&#8221;||||||||&#8221; header_2_font_size=&#8221;36px&#8221; header_2_line_height=&#8221;1.6em&#8221; header_3_font_size=&#8221;1.25rem&#8221; header_3_line_height=&#8221;1.88rem&#8221; header_4_font=&#8221;|700|||||||&#8221; header_4_font_size=&#8221;1.25rem&#8221; header_4_line_height=&#8221;1.88rem&#8221; text_font_size_tablet=&#8221;21px&#8221; text_font_size_phone=&#8221;16px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_2_font_size_tablet=&#8221;29px&#8221; header_2_font_size_phone=&#8221;19px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;]<h2><b>About the RPS-Wahi House Price Index (HPI)<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The RPS-Wahi Home Price Index is the most comprehensive source for house price data in Canada and includes the median house price dollar values and extensive additional data by property type from a national to the local level. For more information, the <a href=\"https:\/\/www.rpsrealsolutions.com\/wp-content\/uploads\/2024\/02\/RPS_HPI_Methodology_202401_Web-1.pdf\" target=\"_blank\" rel=\"noopener\">complete methodology<\/a> is available.<\/span><\/p>\n<p><span style=\"font-weight: 400\"><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><em><b>Long-Term Price Trends<\/b><\/em><span style=\"font-weight: 400\"><br \/><\/span><span style=\"font-weight: 400\"><br \/><\/span><span style=\"font-weight: 400\">The <a href=\"https:\/\/www.rpsrealsolutions.com\/house-price-index\/\" target=\"_blank\" rel=\"noopener\">RPS-Wahi House Price Index<\/a> is based on the latest monthly actual home values in 1,000 towns and cities across the country.<\/span><span style=\"font-weight: 400\"><br \/><\/span><span style=\"font-weight: 400\"><br \/><\/span><span style=\"font-weight: 400\">The index shows how property values have changed over time, relative to a base period (Jan. 2005 = 100). An HPI value of 300 means property values have tripled (on a smoothed, adjusted basis) since 2005. <\/span><span style=\"font-weight: 400\"><br \/><\/span><span style=\"font-weight: 400\"><br \/><\/span><span style=\"font-weight: 400\">The HPI does not indicate the actual price of a property. It demonstrates how prices have moved relative to the base period.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/><\/span><em><b>Market Momentum<\/b><\/em><\/p>\n<p><span style=\"font-weight: 400\"><br \/>A rising index indicates an upward price trend. A falling index suggests price softening or correction. Since the HPI smooths noise and filters out outliers, it gives a more stable, reliable picture of pricing trends than monthly medians.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400\"><\/span><\/p>\n<p>The HPI is based on an up-to-six-month rolling average, so it does not reflect short-term volatility, such as one-off surges in prices from luxury sales. All figures are rounded to the nearest whole number.<span style=\"font-weight: 400\"><\/span><span style=\"font-weight: 400\"><\/span><\/p>\n<p><span style=\"font-weight: 400\"><\/span><\/p>\n<p><em><\/em><\/p>\n<p><span style=\"font-weight: 400\"><\/span><\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||4px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;33px||33px||true|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_blurb title=&#8221;Josh Sherman&#8221; url=&#8221;https:\/\/wahi.com\/ca\/en\/author\/josh-shermanwahi-com\/&#8221; image=&#8221;https:\/\/wahi.com\/wp-content\/uploads\/2022\/11\/Screen-Shot-2022-11-02-at-7.46.57-PM.png&#8221; icon_placement=&#8221;left&#8221; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; header_font_size=&#8221;24px&#8221; header_line_height=&#8221;1.2em&#8221; body_text_color=&#8221;#686E6E&#8221; body_line_height=&#8221;0em&#8221; width=&#8221;550px&#8221; max_width_tablet=&#8221;&#8221; max_width_phone=&#8221;&#8221; max_width_last_edited=&#8221;on|phone&#8221; module_alignment=&#8221;left&#8221; custom_padding=&#8221;2px||13px|||&#8221; header_font_size_tablet=&#8221;24px&#8221; header_font_size_phone=&#8221;20px&#8221; header_font_size_last_edited=&#8221;on|phone&#8221; header_line_height_tablet=&#8221;1.2em&#8221; header_line_height_phone=&#8221;1.4em&#8221; header_line_height_last_edited=&#8221;on|phone&#8221; custom_css_blurb_image=&#8221;width:64px;&#8221; global_colors_info=&#8221;{}&#8221;]<p>Wahi Writer<\/p>[\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.18.0&#8243; 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