TD Bank Sees up to 25% Drop in Canadian Home Prices by Early 2023

TD Bank Sees up to 25% Drop in Canadian Home Prices by Early 2023
A for sale sign is displayed in front of a house in the Riverdale area of Toronto on Sept. 29, 2021. The Canadian Press/Evan Buhler Evan Buhler
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A new TD Bank report suggests the average price of a home in Canada could fall between 20 and 25 percent from its peak seen earlier this year to the first quarter of 2023.
The report released Monday comes as a decrease in prices materialized in the summer as mortgage and interest rates rose. Many are expecting the drop to continue well into fall and even winter.