Are home prices off from a year ago, as in the US? Are people defaulting on their mortgages?

It depends on the area in Canada, just as in the US. Some areas that had big increases have seen prices fall quite a bit, Calgary for one. Areas that are in economic trouble like Windsor and Oshawa have some owners in default. Toronto has seen a slight decrease but very few foreclosures, most of the ones I know of were speculators who walked away.