Post Category: Monthly Reports
September 20, 2023
Teranet-National Bank House Price Index sees another solid rise in August

MONTH-OVER-MONTH Before seasonal adjustments, the Teranet-National Bank Composite House Price Index™, which covers the country’s eleven largest CMAs, rose by 0.6% from July to August, the sixth consecutive monthly increase. After adjusting for seasonal effects, the Teranet-National Bank Composite House Price Index™ grew by 1.6% from July to August, the fourth consecutive monthly increase, but slower […]

Post Category: News and Economic Reports
September 20, 2023
Canada: Housing prices set to moderate in coming months

With renewed activity in the residential real estate market in recent months, the seasonally adjusted Teranet-National Bank composite index rose by 1.6% from July to August, the fourth consecutive monthly increase. As a result, the composite index is now just 2.1% below its all-time peak of April 2022, following a record cumulative decline of 8.6% […]

Post Category: News and Economic Reports
March 17, 2023
Prices still down in February

The Teranet-National Bank Index continued to decline in February so that the cumulative decline in prices since their peak in May 2022 totaled 11.2%, the largest contraction in the index ever recorded. The current decline in prices has even surpassed the 9.2% loss in value that occurred during the 2008 financial crisis. With the Bank […]

Post Category: Monthly Reports
March 17, 2023
Teranet-National Bank House Price Index decline less significant in February

MONTH-OVER-MONTH Before seasonal adjustments, the Teranet-National BankTM Composite House Price Index decreased by 0.3% from January to February, a smaller decline than the 1.1% decrease observed last month. After adjusting for seasonal effects, the Teranet-National BankTM Composite House Price Index decreased by 0.5% from January to February, the tenth consecutive monthly decline. In February, 7 […]

Post Category: News and Economic Reports
January 19, 2023
Historic loss of value in the residential market

The Teranet-National Bank HPI continued to decline in December so that the cumulative drop in prices since their peak in May 2022 totaled 10.0%, the largest contraction in the index ever recorded. The current decline in prices has even surpassed the 9.2% loss in value that occurred during the 2008 financial crisis. However, there is […]

Post Category: Monthly Reports
January 19, 2023
Teranet-National Bank House Price Index continues still down in December

MONTH-OVER-MONTH Before seasonal adjustment, the Teranet–National Bank National Composite House Price IndexTM fell 1.1% from November to December, a smaller decline than the 1.3% drop seen last month. After seasonal adjustment, the Teranet–National Bank National Composite House Price IndexTM decreased by 0.3% from November to December, the sixth consecutive monthly decline, but a smaller decrease […]

Post Category: Monthly Reports
December 19, 2022
Teranet-National Bank House Price Index continues its downward trend in November

Month-Over-Month Before seasonal adjustment, the Teranet–National Bank National Composite House Price Index™ declined 1.3% from October to November, a larger decrease than the 0.8% decline observed last month. After seasonal adjustment, the Teranet–National Bank National Composite House Price Index™ declined 1.1% from October to November, the fifth consecutive monthly decline and a larger decrease than […]

Post Category: News and Economic Reports
December 19, 2022
Prices down from their peak across the country

For the first time since the financial crisis of 2008, all of the cities covered by the Teranet-National Bank HPI have seen prices decline from their peak reached over the past 12 months, marking the end of a prosperous period for the Canadian real estate market. Indeed, price declines were observed in all markets covered, […]

Post Category: News and Economic Reports
December 01, 2022
Housing affordability: Back to the 1980s!

Canadian housing affordability deteriorated for a seventh consecutive quarter in Q3`22 as we remain in the midst of the longest sequence of declining home affordability since the 1986-1989 episode (11 quarters). Q3 2022

Post Category: News and Economic Reports
November 30, 2022
Housing affordability: The worst deterioration in 41 years in Q2 2022

Housing affordability in Canada worsened by 10.4 points in Q2’22, a sixth consecutive quarterly deterioration. The Q2 print marked the worst quarterly and annual deteriorations in 41 years. The mortgage on a representative home in Canada now takes 63.9% of income to service, the most since 1982. Q2 2022