home prices rise Another month is nearly behind us and you know what that means — time for another Teranet House Price Index report.

Canadian home prices in January were up 0.1 per cent from the previous month, according to the Teranet Index. The slight rise followed two consecutive months of marginal declines.

Prices rose in seven of the 11 markets that Teranet surveys. Here’s a breakdown of the gains and declines in each of the metropolitan areas measured:

  • Halifax +0.7 per cent
  • Toronto +0.6 per cent
  • Victoria +0.4 per cent
  • Montreal +0.3 per cent
  • Ottawa-Gatineau and Hamilton +0.2 per cent
  • Winnipeg +0.2 per cent
  • Quebec City, Vancouver and Calgary -0.3 per cent
  • Edmonton -1.1 per cent

This is the fourth consecutive decline for Vancouver and the fourth in five months for Calgary. For Winnipeg, it was the 11th monthly gain in a year (way to go!).

The 12-month gain of the composite index was 6.5 per cent in January.

For those of you who enjoy info displayed in an incredibly organized fashion, we’ve got a chart for that…

Did these numbers have you baffled? Here’s a handy summary straight from Teranet to explain 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.”

Chart courtesy of Teranet

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