Housing prices fell below the national average in 14 out of 20 regional housing markets, according to a report from Zoocasa.

In a statement released on Thursday, the real estate brokerage said it analyzed 20 residential areas across Canada and found 14 markets where the average home prices dropped by more than $25,000.

Saint John, NB, ranked first in the affordable region, with an average home price of $268,400, followed by Regina ($310,200), then Quebec CMA (Census Metropolitan Area, $315,300).

Earlier this month, the Canadian Real Estate Association reported that the average home price in Canada was $662,437 in February.

While the national home price dropped by 18.9 percent from the record set in February 2022, it is still more than $50,000 higher than January.

Most expensive markets:

The most expensive real estate markets above the national average will not surprise most eager housing watchers, as there are only two major regional housing markets with average home prices exceeding one million dollars.

The Greater Vancouver area "takes the cake" for the highest home price above the national average ($1,123,400), nearly double the Canadian average.

The Greater Toronto area also lagged behind in February with an average price of $1,091,300, and although this may seem high, it is still 17.7 percent lower than prices in the same period last year.