House Price Index (HPI): June 2012

Calgary house prices showed the greatest increase of all the cities tracked between May & June according to Teranet’s House Price Index report released today.

Between May & June, Calgary’s index rose 1.7%.  Year-over-year, prices were up  3.4%.

For Calgary & Edmonton  it was the third consecutive strong monthly gain after seven months of decline.

The June increase takes the index to a new high for the third month in a row. June was also the second consecutive month in which none of the 11 metropolitan markets surveyed showed a price decline from the month before.

The index is now at an all-time high in 8 of the 11 markets surveyed, the exceptions being Victoria, Calgary and Edmonton.

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.


2 responses to “House Price Index (HPI): June 2012

  1. It seems on the surface Calgary is moving well, I still think that a slowdown is still sowing its seeds . As some of the majors report earnings it is becoming clear that there will be some hard choices made about employment in the city. Where I work they are looking at budgets and going through a process of pulling back . I am hoping things don’t swing to much and Calgary stays stable .

  2. Oneof Akind – I’m hoping Calgary stays stable as well. I’m getting nauseous riding the ups-and-downs of the past few years.

    BMO released a report today regarding the state of the US & Canadian economy and the risks we face.

    Some highlights:

    Canada has been sideswiped by the global weakening and Euro Area crisis, as oil prices have fallen significantly while the Canadian dollar remains relatively strong. The oil patch has been hard hit by the price declines, the persistently wide differential between Canadian and U.S. crude prices, and reduced exports to the U.S.

    The Canadian stock market has underperformed markedly this year and has been mired roughly 3% below end-2011 levels since May of this year

    Bottom line: Overall, tepid growth and heightened risk accompanied by fiscal tightening will remain, despite record-low North American interest rates. In this environment, the Federal Reserve can do little to boost activity and the Bank of Canada has no stomach for it. We are far removed from the early days of this upturn when job creation was improving, profits were surging and expectations for both earnings and revenues were handily exceeded quarter after quarter. With the eurozone crisis worsening and with no solution in sight, sentiment and activity will continue to disappoint.

    You can read the entire report here.

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