Calgary’s price increase month-over-month was the highest of the Canadian cities surveyed in July according to Teranet–National Bank House Price Index™ released today.
Between June and July, Calgary prices increased 2.3%. Prices were still down 0.9% from a year earlier, for a 10th consecutive month of 12-month deflation and making it the only city surveyed with an annual loss. The Calgary index is down 8.8% from its all-time high of August 2007 and down 0.9% from its pre-correction peak of August 2010.
Canadian home prices in July were up 1.3% from the previous month and up 5.3% from July 2010. This rise took the index to a new high of 146.51 (June 2005 = 100). It was the 4th consecutive monthly increase exceeding 1%, and the 8th consecutive monthly increase after 3 straight monthly declines. In contrast to the 3 previous months, however, not all of the 6 metropolitan markets surveyed showed a gain.