However, the data from Wednesday’s Teranet-National Bank house price index also shows that seven of the 11 cities studied fared better than the two per cent year-over-year national average.
Quebec City saw a 6.5 per cent increase in home prices, Calgary and Hamilton were up 5.8 per cent, Winnipeg jumped 4.6 per cent, Edmonton rose an even four per cent, Toronto nearly matched that with a 3.9 per cent increase and Halifax was up 2.3 per cent.
Meanwhile, Ottawa-Gatineau tied the national two per cent increase while Montreal almost made it there with a 1.9 per cent rise in house prices.
Prices were down from a year earlier in Victoria by −4.1 per cent and Vancouver −3.2 per cent. For Vancouver it was the tenth straight month of 12-month deflation.
Here are those regional numbers again accompanied by the month-over-month variance.
For context, we compare Teranet’s Canadian index to the Case-Shiller house price index of 20 US markets, which was up an impressive 10.9 per cent from a year earlier in March (the latest available reading).