House Price Index (HPI): October 2011

Calgary house prices dropped for the second month in a row in October according to Teranet’s House Price Index released today. Between September and October, Calgary prices were down -1.5%. The decline tied Victoria for the largest m/m decline of the cities tracked. Year-over-year, Calgary house prices were still up +1.7%.

Prices were slightly lower than a year earlier in Edmonton (−0.1%). For Edmonton it was the 12th month in a row of 12-month deflation.

For a second consecutive month, Canadian home prices in October were flat from the previous month. Prices retreated in 7 of the 11 markets surveyed. Year-over-year, Canadian house prices were up +7.9% (composite 11)

(click to enlarge image)

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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