For the 3rd straight month, Calgary home prices saw month-over-month declines according to the Teranet-National Bank House Price Index. Between October and November, Calgary’s HPI fell -1.6%, the largest drop of the municipalities tracked. Year-over-Year, house prices were up +0.5%
Canadian home prices in November were down -0.2%. The retreat came after two months in which prices had been flat from the month before. Year-over-year prices were up +7.1% (composite 11) or up 8% (composite 6)
The report also states that “the simultaneous monthly declines in Toronto, Hamilton and Winnipeg are noteworthy in that these three markets are considered tight.”
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.