Uncategorized • August 19, 2024

Teranet-National Bank House Price Index™ remained relatively stable again in July

by Rob Lough

YEAR-OVER-YEAR

The Teranet-National Bank Composite Home Price Index™ rose by 2.0% from July 2023 to July 2024, less than the 3.6% increase recorded the previous month. Increases were observed in ten of the 11 cities making up the composite index in July. Calgary led the way with a 15.1% year-on-year price increase, followed by Edmonton with an 8.4% gain and Quebec City with 7.5% growth. As for the lagging markets, prices rose less than average in Victoria (+0.6%) and Hamilton (+1.3%), while they fell in Toronto (-1.4%). As for the other 20 CMAs not included in the composite index, annual gains were observed in thirteen of them. Among the rising markets, the strongest growth was recorded in Trois-Rivières (+10.8%) and Saint John (+10.1%). Conversely, the markets with the biggest declines were Peterborough (-3.9%) and Kitchener (-2.3%).

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