September prices were down from the month prior in 6 of the 11 metropolitan markets surveyed in Teranet’s House Price Index, but Calgary was not one of them.
In fact, Calgary tied for the highest month-over-month increase with Halifax (+0.5%), followed by Winnipeg (+0.4%), Hamilton (+0.3%) and Toronto (+0.1%) Year-over-year, Calgary prices were up +2.2% which lagged the national average 0f 3.6%.
The largest m/m decreases were recorded in Victoria (−1.3%) and Vancouver (−1.2%).
Nationally, this year’s September decline of -0.4% from August was only the 3rd September drop in 13 years of data. The other two were in 2008, as Canada was entering recession, and during the correction of 2010.