Posted by Teranet - National Bank

Share on Facebook

Tweet on Twitter

12-Month rise up 1.9% in July.

The Teranet–National Bank National Composite House Price Index™ rose to an all-time high in July, as did the indexes of four of the 11 metropolitan markets covered by the composite index: Hamilton, Toronto, Ottawa-Gatineau and Quebec City. However, the composite index was up only 1.9% from a year earlier. Though this was a slight acceleration from June, the 12-month gains of these two months were the smallest since November 2009.

By way of comparison, the Case-Shiller home price index of 20 U.S. metropolitan markets was up 12.1% from a year earlier in May (the latest available reading).

In Canada, the price rise over the 12 months ending in July exceeded the cross-country average in six of the 11 markets: Hamilton (6.7%), Calgary (5.9%), Quebec City (3.8%), Edmonton (3.5%), Toronto (3.4%) and Winnipeg (3.2%). It lagged the average in Halifax (1.5%), Montreal (1.1%) and Ottawa-Gatineau (0.9%).

Prices were down from a year earlier for a fifth straight month in Victoria (−4.0%) and for a 12th straight month in Vancouver (−2.0%).

…..read more HERE