Post Category: Monthly Reports
May 17, 2023
Teranet-National Bank House Price Index stabilizes in April

MONTH-OVER-MONTH Before seasonal adjustments, the Teranet-National Bank™ Composite House Price Index, which covers eleven CMAs across the country, rose by 1.8% from March to April, a second consecutive monthly increase. However, after adjusting for seasonal effects, the Teranet-National Bank™ Composite House Price Index remained relatively stable with a slight decrease of 0.1% between March and […]

Post Category: Monthly Reports
April 20, 2023
Record Annual Decline in the Teranet-National Bank House Price Index in March

YEAR-OVER-YEAR The Teranet-National BankTM Composite Home Price Index, which covers eleven CMAs across the country, declined by 6.9% from March 2022 to March 2023, slightly worse than the previous record contraction recorded during the 2008-2009 financial crisis. Increases were still observed in 3 of the 11 cities that make up the composite index in March. […]

Post Category: News and Economic Reports
April 20, 2023
Record annual price decline in March

Even though the resale housing market is showing its first signs of stabilization and the non-seasonally adjusted Teranet-National Bank Index has seen its first monthly increase in ten months, it is still too early to say that the real estate market in Canada is on the rise. In fact, once adjusted for seasonal effects, the […]

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