The latest Housing Trends and Affordability Report from RBC Economics found that the Canadian home ownership dream became slightly less affordable in the fourth quarter of 2014. Between November and December of last year, resale activity fell 5.6 per cent, the sharpest month-over-month decline recorded in four and a half years.

National home sales fell 3.1 per cent from December of last year to January 2015, according to the latest month-over-month analysis from the Canadian Real Estate Association (CREA). Although fewer sales were recorded in approximately 60 per cent of all housing markets, the country’s weakest markets altered national totals significantly. These regions included Edmonton, Sask. and Calgary, Alta.