Post Category: Monthly Reports
June 19, 2019
Home price index up in May for the first time in nine months

In May the Teranet–National Bank National Composite House Price IndexTM was up 0.5% from the month before,[1] the first monthly gain in nine months. On the other hand, for a month of May it was the smallest rise in 21 years of index history. If seasonally adjusted, the index would have been down 0.4% on […]

Post Category: News and Economic Reports
June 19, 2019
The national HPI grew at its slowest annual pace in this cycle

One should not rejoice about the first rise in home prices in seven months as May is historically the second strongest month of the year. In effect, the 0.5% increase represents the weakest performance on record for a month of May. As a result, the annual increase moderated to 0.7%, the lowest since the recession […]

Post Category: Monthly Reports
May 14, 2019
April: Eighth consecutive month without a rise in the composite index

In April the Teranet–National Bank National Composite House Price IndexTM was flat from the previous month.[1] Apart from the 2009 recession period, it was the first April in 21 years of index history in which home prices showed no rise. And the run of months with no rise in the composite index has now extended […]

Post Category: News and Economic Reports
May 14, 2019
Is the resale market stabilizing?

While the Composite Teranet-National Bank HPI dropped again in April, there are signs of stabilization. April’s decline in the Composite index is the smallest in months. The cumulative decline over this seven-month stretch is only 1.8%, a moderate loss compared to the 2008-2009 recession, and even compared to shorter sequences of drops that occurred since […]

Post Category: Monthly Reports
April 12, 2019
The Composite Index down for a sixth month in a row in March

In March the Teranet–National Bank National Composite House Price IndexTM was down 0.3% from the previous month.[1] Apart from the recession year 2009, it was the first March decline in the 20 years of index history. It was also the sixth consecutive monthly decline, for a cumulative drop of 1.7%. Indexes were down on the […]

Post Category: News and Economic Reports
April 12, 2019
The national HPI drops for a sixth month in a row

In March, the downward trend in home prices continued with the Composite Teranet-National Bank HPI slipping for a sixth month in a row, a first in six years. Moreover, in 20 years of history, this is the first time that the Composite HPI drops in a month of March outside a recession. A few months […]

Post Category: News and Economic Reports
March 13, 2019
Price weakness spreads to almost all regions

In February, the downward trend in home prices continued with the Composite Teranet-National Bank HPI slipping for a fifth month in a row (left chart). Moreover, the weakness extended to most regions. In the 11 metropolitan areas comprised in the Composite Index, only one (Montreal) experienced an increase of the index over the last six […]

Post Category: Monthly Reports
March 13, 2019
Largest retreat for a February outside of recession

In February the Teranet–National Bank National Composite House Price IndexTM was down 0.4% from the previous month.[1] Except for the recession year of 2009, it was the largest February decline in 19 years of index history. Indexes lost ground in nine of the 11 metropolitan markets of the composite index: Victoria (−2.0%), Hamilton (−1.4%), Quebec […]

Post Category: News and Economic Reports
February 13, 2019
Weakness intensifies in Vancouver, Calgary and Edmonton

In January, the downward trend in home prices intensified in Western Canada’s three largest metropolitan areas. The indexes for Vancouver, Calgary and Edmonton extended what are now the longest runs of months without an increase among the 11 metropolitan areas covered by the national index. It was a seventh month without an increase in Calgary, […]

Post Category: Monthly Reports
February 13, 2019
Weakness concentrated in the West

In January the Teranet–National Bank National Composite House Price IndexTM was down 0.1% from the previous month.[1] It was the fifth consecutive month without a rise, the longest such run since March 2013, and was notable for marked retreats in the three largest markets of Western Canada: Edmonton (−0.8%), Calgary (−0.5%) and Vancouver (−0.3%). The […]