teranet-home-prices-down It’s that time of the month again! The Teranet House Price Index report has just been released for the month of February and we’ve got the breakdown below.

Canadian home prices in February were down 0.2 per cent from the previous month, according to the Teranet Index. This is the third decline in four months.

Prices fell in six of the 11 markets that Teranet surveys. Here’s a summary of the gains and declines in each of the metropolitan areas measured:

  • Quebec City +1.6%
  • Halifax +0.4%
  • Montreal +0.2%
  • Winnipeg +0.2%
  • Toronto +0.1%
  • Victoria -1.1%
  • Edmonton -1.0%
  • Calgary -0.6%
  • Vancouver -0.3%
  • Hamilton -0.8%
  • Ottawa -0.4%

The composite index was up 6.1 per cent from a year earlier.

Teranet also puts together a cool chart of the survey’s results, check it out:

teranet february 2012
And for the Teranet first-timers out there, we’ve got 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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