{"id":21203,"date":"2023-01-23T10:10:00","date_gmt":"2023-01-23T18:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=21203"},"modified":"2023-01-13T10:48:35","modified_gmt":"2023-01-13T18:48:35","slug":"the-aggregate-home-prices-down-2-3-on-q-q-basis-the-3rd-consecutive-quarterly-decline","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/01\/the-aggregate-home-prices-down-2-3-on-q-q-basis-the-3rd-consecutive-quarterly-decline\/","title":{"rendered":"The Aggregate Home Prices Down 2.3% on Q\/Q Basis, The 3rd Consecutive Quarterly Decline"},"content":{"rendered":"<p style=\"text-align: justify;\">TORONTO \u2014 A report by Royal LePage says the median price of a home in Canada in the fourth quarter of 2022 posted the first year-over-year decline since the end of 2008 during the financial crisis.<\/p>\n<p style=\"text-align: justify;\">In its house price survey, the real estate company says the median aggregate price of a home was $757,100 in the final quarter of last year, down 2.8% compared with the end of 2021.<\/p>\n<p style=\"text-align: justify;\">Royal LePage says the aggregate price was down 2.3% on a quarter-over-quarter basis to mark the third consecutive quarterly decline.<\/p>\n<p style=\"text-align: justify;\">Home prices fell in 2022 as mortgage rates pushed higher, driven by the Bank of Canada&#8217;s interest rate hikes to fight inflation.<\/p>\n<p style=\"text-align: justify;\">However, Royal LePage noted that home prices remain above pre-pandemic levels.<\/p>\n<p style=\"text-align: justify;\">It says the national aggregate home price in the fourth quarter of 2022 was up 13.8% compared with the same quarter in 2020 and 17.2% higher than in the fourth quarter of 2019.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/biv.com\/article\/2023\/01\/home-prices-q4-down-year-over-year-first-decline-end-2008-report\" target=\"_blank\" rel=\"noopener\">Report : Home Prices in Q4 Down Year-Over-Year, First Decline Since End of 2008<\/a> by The Canadian Press | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TORONTO \u2014 A report by Royal LePage says the median price of a home in Canada in the fourth quarter of 2022 posted the first year-over-year decline since the end &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2023\/01\/the-aggregate-home-prices-down-2-3-on-q-q-basis-the-3rd-consecutive-quarterly-decline\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-21203","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Aggregate Home Prices Down 2.3% on Q\/Q Basis, The 3rd Consecutive Quarterly Decline &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2023\/01\/the-aggregate-home-prices-down-2-3-on-q-q-basis-the-3rd-consecutive-quarterly-decline\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Aggregate Home Prices Down 2.3% on Q\/Q Basis, The 3rd Consecutive Quarterly Decline &#8226; 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