National home prices fell 4% year-over-year in April, dropping from about $809,000 to $777,000. Toronto saw an 8% decline, with average prices falling from $1,161,000 to $1,068,000. Price drops varied by type: single-family homes down 4%, semi-detached 5%, and condos 7%. Declining demand, lower immigration, and condo completions contribute to the trend. Affordability remains a challenge, especially for certain condos.