It’s time for us to give you the full rundown of the Teranet-National Bank National Composite House Price Index… We’re reasonably certain that wasn’t your guess, but that’s certainly what time it is so let’s hop right into it.
For the second straight month, Canadian home prices in December declined 0.2 per cent from the previous month. According to the Index, “the two monthly retreats follow two months in which prices had been flat from the month before.”
Here’s a quick look at the individual markets that the Index monitors:
- Victoria -0.8 per cent
- Ottawa-Gatineau and Montreal -0.5 per cent
- Toronto and Vancouver -0.3 per cent
- Edmonton, no change
- Quebec City +0.3 per cent
- Winnipeg +0.6 per cent
- Hamilton and Calgary +0.7 per cent
- Halifax +0.9 per cent
Calgary’s increase ended three months of declines while Victoria and Vancouver faced their third straight decline.
The composite index is now sitting at 148.87.
In case you’re a little mystified by all these numbers, we’ve included a handy summary straight from Teranet that explains what this index is all about:
“The Teranet-National Bank House Price Index is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index.”