(Note: Beginning with this report, Teranet will be releasing the index one month earlier. It will now appear within one month of the end of the period covered. Thus this release dated May reports index results for April rather than for March)
Calgary home prices continued to increase throughout the spring months according to the Teranet–National Bank National Composite House Price Index™ released today.
Between March and April, the index for Calgary rose 1.4%. Calgary’s month-over-month gains were bested only by Halifax (1.6%) and Edmonton (1.5%).
Year-over-year, prices in Calgary were up 1.9%. Markets were described as “on the tight side” in Toronto, Hamilton, Winnipeg & more recently Halifax, Calgary and Edmonton.
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
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