Canadian home prices in September were flat from the previous month (+0.0%), according to the Teranet–National Bank National Composite House Price Index™. The plateau followed 9 consecutive monthly increases. Year-over-year prices in Canada were up +7.4% or +6.5%, depending if you’re looking at the original composite 6 index or the newer composite 11.
Several cities tracked by the index also experienced their first m/m decline in many months:
- Ottawa-Gatineau (ending a run of seven straight monthly gains)
- Vancouver (ending a run of 11 straight gains)
- Montreal (first decline in 10 months)
- Edmonton (first decline in seven months, and the only city tracked that is down from the previous year)
In four markets, prices were up from the month before – 0.6% in Winnipeg (eighth monthly increase in a row), 0.5% in Hamilton and Toronto (seventh increase in a row for both) and 0.2% in Victoria.
Calgary experienced the first decline in six month in September, dropping -0.8% from the previous month. Year-over-year, house prices in Calgary were up +2.2%