House Price Index (HPI): April 2012

(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.

HPI: April 2012

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

3 responses to “House Price Index (HPI): April 2012

  1. Alberta prices are sticky. We have great fundamentals and the energy sector outlook which drive our economy is bright. Yet we see othe parts of the country with much better y/y performance that out here.

  2. Lots of sales in Calgary with slow price appreciation. The luxury end is leading the charge big time in terms of price; maybe those buyers know something that most others don’t. The average price is being dragged upwards by that segment while the median price although it’s increasing, is not increaing like the average…… and the median is much more reflective of the true overall state of things; which is good, but not booming like other major cities in Canada.

    Somebody post something and explain why….please…..

  3. Hello Pat,

    Actually the median increased more percentage wise than the average price did in May.

    The SFH median price was 436,000, a 3.07% y/y increase. On the other hand, the average price increased 2.7% year-over-year, from $488,862 to $502,065

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