For the fourth time in five months Calgary home prices saw a month-over-month decline according to the Teranet–National Bank National Composite House Price Index™ released today.
Between December and January, Calgary’s index was down -0.3%. Year-over-year, it was still up +1.6%.
Canadian home prices in January were up +0.1% from the previous month, ending two consecutive months of retreat. Prices were up month-over-month in 7/11 metropolitan markets surveyed. Year-over-year the composite 11 index was up +6.5%
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.
The Teranet–National Bank House Price Index™ is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index. This is known as the repeat sales method.