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Canada's housing market has experienced a slowdown after a strong pandemic period. In March, Toronto's home prices dropped to $1.1 million, a 14.6% decrease from a year earlier, although there was a slight increase from February. Vancouver's property prices reached $1.14 million, marking a 9.5% decline from March 2022. Calgary faced a significant drop in inventory while its average price remained stable at $535,743. Mortgages fell sharply in January, with a 41% drop, marking the weakest start to the year since 2015, and the proportion of variable rate mortgages decreased from 56.9% to 16.7%. Conversely, Alberta's recreational real estate saw a 13.3% price rise for vacation homes, suggesting ongoing demand in certain segments across the country.