April 28, 2010
Teranet and the National Bank of Canada report home prices were up 9.9% in February from a year earlier.
Many, including us at BuzzBuzzHome, consider Teranet’s House Price Index to be the most accurate of all Canada house price tracking metrics. According to the just released report, Toronto is up the most with a 13.3% rise (year-over-year), and Vancouver is in second place with a rise of 11.8%. Poor Calgary is in last place – up only 2.2% since February 2009 and is actually down -0.04% from last month.
Two month’s ago we published an article, “There is NO housing bubble and resale prices have NOT increased 20%“. We believe these new figures out from Teranet help illustrate the point that bubble-esque gains in home appreciation are not what they seem.