Calgary home prices in June were up 1.6% from the previous month, according to the Teranet–National Bank National Composite House Price Index™ released today.
Despite the monthly gain, Calgary prices were down 2.7% from a year earlier for a 9th consecutive month of 12-month deflation. The Calgary index is still 10.9% off the all-time high of August 2007 and 3.1% off the pre-correction peak of August 2010.
Canada-wide, home prices in June were up 1.7% from the previous month. According to the report:
It was the third consecutive monthly increase exceeding 1% and the largest rise since August 2009. It was also the seventh consecutive monthly increase, coming after three straight monthly declines. As in April and May, prices were up in all six of the metropolitan markets surveyed. What is new is that in all six markets the June monthly rise was at least 1%, a first since April 2005.
Year-over-year, the national composite index was up 4.5 with Vancouver leading the way.
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