One major distortion we see in the Canadian real estate data right now is MLS relist masking: sellers terminate after 60-90 days and relist under a fresh MLS number so the listing shows 5 Days on Market when true cumulative DOM is 130+ days. Once you track true cumulative DOM + peak-to-current price cuts + 30-year municipal safety/CSI metrics across 154,321 records in all 10 provinces (DealVectorAI — dealvectorai.com), you see 12%-18% below-peak clearing spreads in Oakville, Mississauga, Ottawa, Toronto, and Vancouver.