A Desjardin House Report shows housing across Ontario in some markets could be on a steep decline over the next 18 months.
Among the top areas include Chatham-Kent and Windsor-Essex.
Grey-Bruce Owen Sound are also in top end of the list with Huron-Perth cracking in the mid-higher for a decline.
The report notes, after two years of higher prices and increased borrowing costs, the number is cooling.
The report marks a correction in housing prices and not a market collapse. Authors say the average national home price will fall by 15 per cent by December 2023.
The Huron-Perth Association of Realtors reported for the first time in 3 months, a drop in housing costs with the average of price sold at $685,082.