Canadian home prices in May were up 1.3% from the previous month, according to the Teranet-National Bank National Composite House Price Index™. This rise took the index to a new high of 142.27 (June 2005 = 100). It was the second consecutive monthly increase exceeding 1% and the largest since July 2010. It was also the sixth consecutive monthly rise, coming after three straight monthly declines. As in April, prices were up in all six of the metropolitan markets surveyed. The May gain was 1.6% in Vancouver and Toronto, 0.7% in Montreal, 0.6% in Calgary, 0.5% in Ottawa and 0.1% in Halifax. For Vancouver it was the eighth consecutive monthly increase. The Toronto index topped its recent peak of July 2010. Calgary prices, meanwhile, are still 4.6% below their previous peak. The index for Ottawa was only fractionally away from its August 2010 peak. Indexes for the other three markets passed their respective peaks some time ago in the recovery from the correction of late last year.
Thursday, July 28, 2011
Canadian Home Prices up1.3% in May
Canadian home prices up 1.3% in May
Canadian home prices in May were up 1.3% from the previous month, according to the Teranet-National Bank National Composite House Price Index™. This rise took the index to a new high of 142.27 (June 2005 = 100). It was the second consecutive monthly increase exceeding 1% and the largest since July 2010. It was also the sixth consecutive monthly rise, coming after three straight monthly declines. As in April, prices were up in all six of the metropolitan markets surveyed. The May gain was 1.6% in Vancouver and Toronto, 0.7% in Montreal, 0.6% in Calgary, 0.5% in Ottawa and 0.1% in Halifax. For Vancouver it was the eighth consecutive monthly increase. The Toronto index topped its recent peak of July 2010. Calgary prices, meanwhile, are still 4.6% below their previous peak. The index for Ottawa was only fractionally away from its August 2010 peak. Indexes for the other three markets passed their respective peaks some time ago in the recovery from the correction of late last year.
Canadian home prices in May were up 1.3% from the previous month, according to the Teranet-National Bank National Composite House Price Index™. This rise took the index to a new high of 142.27 (June 2005 = 100). It was the second consecutive monthly increase exceeding 1% and the largest since July 2010. It was also the sixth consecutive monthly rise, coming after three straight monthly declines. As in April, prices were up in all six of the metropolitan markets surveyed. The May gain was 1.6% in Vancouver and Toronto, 0.7% in Montreal, 0.6% in Calgary, 0.5% in Ottawa and 0.1% in Halifax. For Vancouver it was the eighth consecutive monthly increase. The Toronto index topped its recent peak of July 2010. Calgary prices, meanwhile, are still 4.6% below their previous peak. The index for Ottawa was only fractionally away from its August 2010 peak. Indexes for the other three markets passed their respective peaks some time ago in the recovery from the correction of late last year.
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