Canada Mortgage and Housing Corporation is predicting home prices and sales will fall from last year's levels by December.
But the federal housing agency says the declines won't blunt much of the market's heat.
Chief economist Bob Duggan says home ownership will be less affordable in the near-term because of higher mortgage rates and high price levels.
He also expects rental affordability will likely decline as well.
Abbotsford police say the 51-year-old driver of the other vehicle is in custody as part of an impaired driving investigation. Officers responded to a crash at the intersection of Wells Line Road and McDermott Road at 6:25 p.m.
A statement from the ministry says those regions are ranked at Drought Level 4, meaning conditions are extremely dry and will likely have unfavourable impacts on everything from jobs to ecosystems.
Pharmacists will be able to administer more vaccines and renew prescriptions for people who have lost their family doctors starting Oct. 14. Next spring, they will begin prescribing drugs for minor ailments like urinary tract infections, allergies and indigestion, meaning patients won't have to visit a doctor first.
Gas prices in Vancouver hit a new high of more than $2.39 a litre at some stations Thursday, blowing past the previous peak set this summer. One gas analyst said that's a new all-time record for North America, and expects prices to continue to rise this week.
That matching campaign was due to end on Wednesday. In an interview, Sajjan says the campaign will go on and the amount is now capped at $5 million.
A new report says the average home price reached a peak of $839,600 in February 2022, up 52 per cent from $551,100 in February 2020. Since then, however, prices have declined by seven per cent, down to $777,200 in August.