According to Teranet-National Bank’s report released today, Canadian house prices were up 2.6% from the previous November. It was the 7th straight month in which the index for Canada was up from the month before, leaving it down only 0.1% from the peak recorded in August 2008. The month-over-month gain was a positive 0.8%, but was the first time in 6 months it was under 1.2%.
In Calgary prices continued to rise – up 0.6% between October and November but are still down 2.1% from a year earlier and 10.7% off their peak recorded in August 2007. It is the only market in the index that is still showing a negative % year-over-year.
Source: www.housepriceindex.ca
All indices have a base value of 100 in June 2005. For example, an index value of 130 means that home prices have increased 30% since June 2005.
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