As the HPI lags by about two months, June’s report has just been released by Teranet-National Bank.
Highlights
- Canadian prices up 1.5% from previous month, down 6.2% from previous year.
- Calgary prices down 0.2% from previous month, down 12.5% from previous year.
Click to Enlarge. Source: Teranet-National Bank
From Teranet-National Bank:
Canadian home prices in June were down 6.2% from a year earlier. It was the seventh consecutive 12-month decline. The index is now down 6.8% from its peak of August 2008. However, it rose in both May and June after eight straight monthly declines. The June monthly rise was 1.5%. The turnaround is consistent with an improvement in market conditions in recent months for the country as a whole – more homes have been sold and fewer have been coming on the market.
Of the six constituent metropolitan-area indices, four showed monthly rises in June – Montreal (1.2%), Toronto (2.3%), Ottawa (2.1%) and Vancouver (1.6%). For Vancouver it was a first monthly rise after 11 consecutive declines. For Montreal it was a fourth straight monthly increase. In both Halifax and Calgary, June prices were down 0.2% from the month before. For Calgary it was the 12th consecutive monthly decline and the 19th in 22 months.
Four of the six city indices were down from a year earlier – Vancouver (−10.7%), Calgary (−12.5%), Toronto (−5.6%) and Halifax (−0.4%). Montreal, up 2.4% from June 2008, is the only market that has yet to show a 12-month decline. Ottawa has shown a 12-month decline only once, in May of this year.The composite index is down 6.8% from the peak of August 2008. Toronto prices are now down 7.5% from their peak of the same month. Calgary is 15.4% below its peak of August 2007. Halifax and Ottawa show smaller declines from peak, 0.6% from November and 2.2% from October respectively.
June 2009 MLS® Stats
By comparison, MLS® for Metro-Calgary in June were:
- SFH average prices were down 5.62%, median down 2.21% from June 2008
- SFH average & median prices were up about 2% from May 2009
- Condo average prices were down 9.35%, median down 5.85% from June 2008
- Condo average & median prices were up about 4% from May 2009.
he top MLS® condo sale for Metro-Calgary :
