Canada’s home prices are sinking under the pressure of rising interest rates, with the national average price falling to $746,000 in April, according to data from the Canadian Real Estate Association (CREA).
Excluding the two most active and expansive housing markets in Greater Vancouver and the Greater Toronto Area (GTA), the calculation would cut $138,000 from the national average price in April, the CREA said in a news release on May 16.
