According to the latest figures from the Canadian Real Estate Association, the average price of a home in Canada has fallen by 22% since February.

In August, the average price of a Canadian home was $637,673, down almost $200,000 from the all-time high of $816,720 in February.

The number of homes sold in Canada has decreased for the past six months, and home sales are down 24% since this time last year.

Much of the decrease in home sales can be attributed to the Bank of Canada raising interest rates multiple times this year.