Home Prices In March Up 0.4% From A Year Earlier

April 17, 2013

In March the Teranet-National Bank National Composite House Price Index™ was up 2.6% from a year earlier, one-tenth of a percentage point less than in January and February and thus the smallest 12-month gain since November 2009. By way of comparison, the U.S. Case-Shiller home price index of 20 metropolitan markets was up 8.1% from a year earlier in January (the latest available reading). In Canada, the rise over the 12 months ending in March exceeded the cross-country average in seven of the 11 markets surveyed for the national composite index: Quebec City (5.9%), Calgary (5.7%), Hamilton (4.9%), Toronto (4.7%), Winnipeg and Halifax (4.5%) and Edmonton (3.7%). Lagging the average were Ottawa-Gatineau (+2.3%) and Montreal (1.5%). Prices were down from a year earlier in Victoria (−3.5%) and Vancouver (−1.5%). For Vancouver it was the eighth month of 12-month deflation.

Teranet – National Bank National Composite House Price Index™