07:05 AM EDT, 10/17/2025 (MT Newswires) -- The longer view of Canadian home price changes shows that most owners, across the country, are still sitting in a strong equity position, said Bank of Montreal (BMO).

While prices are down about 17% from the early-2022 high nationally, they remain roughly 25% above January 2020 levels -- in other words, just before the pandemic boom. That's because the run-up was so short and pronounced, stated the bank.

Even in the pockets where the correction is running deepest and longest -- such as Southern Ontario -- those markets are still seeing price levels 20% or more above early-2020, noted BMO. This is a case where the most supercharged markets have seen the deepest corrections.

According to the bank, two things to point out are:

-- Aside from Atlantic Canada, which was extremely cheap before 2020, the performance of most markets has been pretty evenly balanced through the full cycle.

-- Equity loss is largely contained to those who chased the market higher during 2021.