April 28, 2011

Canadian home prices in February rose 0.1% on average from the previous month, according to Teranet’s House Price Index, considered Canada’s most accurate house price metric. Average home prices in Calgary, however, dropped for the fifth straight month.

The national gain was the third consecutive monthly rise but was stifled by falling prices in three of the six surveyed cities. Prices fell 0.1% in Toronto, 0.4% in Halifax and 0.5% in Calgary. Prices were up 0.3% from the month before in Vancouver and 0.5% in Montreal and Ottawa.

In terms of year of year price changes, Halifax continued to hold top spot with an annual rise of 7.6% while Calgary has maintained its biggest loser award with an annual drop of -3.5% in home prices.

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