Map of Canada
composite 11 weightings donut chart Select Ottawa Select Montreal Select Quebec City Select Halifax Select Victoria Select Vancouver Select Calgary Select Edmonton Select Winnipeg Select Hamilton Select Toronto
m/m
ytd
y/y
Index base value of 100 = June 2005
Map of...
Population  
Land in square kilometers  
Population density (pop./km2)  
Number of occupied private dwellings  
Owned / Rented %  
One-family households  
Multi-family households  
Non-family households  
Average household income  
Aggregate value of dwellings  
CMA profile and table data are based on 2021 Census Data
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Teranet–National Bank House Price Index™

An independent representation of the rate of change of Canadian single-family home prices.
Index
m/m
ytd
y/y
Post Category: Monthly Reports
June 18, 2025
Teranet-National Bank House Price Index™ continues to decline in May

MONTH-OVER-MONTH The Teranet-National Bank Composite House Price Index™, which covers the country’s eleven largest CMAs, fell 1.6% from April to May, marking the fifth consecutive monthly decline. In May, six of the 11 CMAs included in the index saw declines: Toronto (-2.9%), Vancouver (-2.6%), Victoria (-1.0%), Winnipeg (-0.5%), Hamilton (-0.4%) and Ottawa-Gatineau (-0.3%). In contrast, […]

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HPIs in Canada -
How methodologies
impact results
Download Whitepaper

This whitepaper offers an overview of:

  • How HPIs are widely used to estimate and monitor economic activity in the housing sector;
  • Insight into the variety of methods for calculating HPIs;
  • How HPIs play a significant role in policy development, market and financial regulation for public and private organizations around the globe.
Post Category: News and Economic Reports
June 18, 2025
Home price declines continue to intensify in May

The Teranet-National Bank composite index fell 1.6% from April to May, marking the fifth consecutive monthly decline and a sharper contraction than in previous months. As a result, prices have fallen by 3.9% since December 2024. May also marks an important turning point, with the composite index falling into negative territory for the first time in 22 months, down 1.6% year-over-year from May 2024. This comes as the resale market continues to be particularly weak, due in part to uncertainty surrounding the trade war with the United States. Although the number of transactions in the resale market has increased slightly in the last two months, market conditions have eased considerably across the country and now point to a balanced market. However, this reversal is mainly due to market conditions that are strongly favourable to buyers in Ontario and British Columbia, which is causing prices to decline, particularly in these two provinces with persistent affordability challenges. In fact, 90% of markets (18 out of 20) in Ontario and British Columbia recorded declines during the month, compared to 27% in other provinces (3 out of 11). Amid ongoing economic uncertainty, moderate population growth and the risk of continued high long-term interest rates, home prices are expected to remain under pressure in the coming months, even if the resale market regains some momentum. The accumulation of homes for sale will continue to weigh on prices in the coming months.

June 2025

Methodology
HPI Methodology
 
Introduction to Index
Introduction to Index
 
Public Solutions

Gain unparalleled insight into the dynamics of a highly varied Canadian housing market with the Teranet-National Bank House Price Index™ monthly public release.

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Assess and adjust your risk exposure by monitoring price changes and trends by neighbourhood or region with the Teranet-National Bank Sub-Indices

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