Post Category: News and Economic Reports
March 14, 2018
Composite Index relapsed in February

OPINION: The Composite Index relapsed in February, having lost ground in four of the last six months, for a cumulative drop of 1.9%. Moreover, over that period, indices declined in seven metropolitan regions out of 10. Excluding Vancouver, the Composite Index would have declined or stayed put in each of the last six months. Speaking […]

Post Category: Monthly Reports
March 14, 2018
The Teranet–National Bank House Price Index™ ticked down 0.1% in February

In February the Teranet–National Bank National Composite House Price Index(tm)  retreated 0.1% from the previous month, following December and January rises that had interrupted a downtrend. It was the first February decline since 2013. The index was up in only three of the 11 metropolitan markets surveyed, the fewest since October 2014: Vancouver (+0.4%), Hamilton […]

Post Category: News and Economic Reports
February 14, 2018
Vancouver again drove the Composite in January

OPINION: Just like it did the prior month, Vancouver drove the Composite index in January – without Vancouver, the Composite index would have retreated for a fifth month in a row (top chart). On a y/y basis, Vancouver’s index for condos surged 23.0%, while the index for other types of dwellings rose 13.5%. The fact […]

Post Category: Monthly Reports
February 14, 2018
Toronto index stopped trending down in January

In January the Teranet–National Bank National Composite House Price IndexTM rose 0.3% from the previous month, a tic higher than the historical average for January and a second consecutive monthly increase. However, only four of the 11 metropolitan markets surveyed showed gains – the first time since January 2016 that a rise in the Composite […]

Post Category: News and Economic Reports
January 12, 2018
Vancouver the main driver of the Composite in December

OPINION: Without Vancouver, the Composite index would have declined for a fourth month in a row (top chart). The strength of Vancouver’s index is consistent with continued tight home resale market conditions. Toronto’s index declined for a fifth consecutive month, but the unsmoothed index (see note on methodology on next page) rose for a second […]

Post Category: Monthly Reports
January 12, 2018
The House Price Index stopped retreating in December

In December the Teranet–National Bank National Composite House Price IndexTM  edged up 0.2% from the previous month, interrupting a three-month run of declines. However, only five of the 11 metropolitan markets surveyed showed index increases. The one-tick rise of the composite index was due to a 1.3% jump of the index for the large Vancouver […]

Post Category: News and Economic Reports
January 11, 2018
Housing starts come back to earth in December

OPINION: Housing starts declined sharply in the last month of 2017 but still managed to beat consensus expectations (211K). A retracement was always in the cards after the unsustainable figure posted in November (251.7K). A good chunk of the decline in December stemmed from an expected fall in multi-unit starts in Ontario (-34.0K) after the […]

Post Category: News and Economic Reports
December 13, 2017
Toronto unsmoothed HPI rose in November

FACTS: The Teranet–National Bank Composite National House Price IndexTM dropped 0.5% in November, a third monthly decline in a row. The index fell in four of the 11 constituents cities: Toronto (-1.4% – a fourth consecutive decline in the largest real estate market in Canada), Hamilton (-1.6%), Ottawa-Gatineau (-0.8%) and Edmonton (-0.7%). The indexes were […]

Post Category: Monthly Reports
December 13, 2017
A third straight monthly decline in November

In November the Teranet–National Bank National Composite House Price IndexTM was down 0.5% from the previous month, the third consecutive monthly decline and the largest for a month of November outside of a recession. Indexes were down for four of the 11 metropolitan areas surveyed: Toronto (−1.4%), Hamilton (−1.6%), Ottawa-Gatineau (−0.8%) and Edmonton (−0.7%). Indexes […]

Post Category: News and Economic Reports
December 12, 2017
You get a house, I get a house, we all get a house

November Housing Starts FACTS: Housing starts reached 252.2K units in November, rising 29.5K (13.2%) from the level in October (top chart). The monthly increase can be explained by a 25.3K (16.9%) advance for multiple starts in urban areas, which complemented the smaller rise for singles – the latter grew 4.2K (7.5%) to 60.4K. Rural starts, […]