House Price Index (HPI): October 2012

Calgary repeat sale prices fell in October marking the first monthly decline since March.  According to Teranet-National Bank House Price Index released today, Calgary prices were down -0.2% between September and October.   Year-over-year, Calgary was up 3.5%.

Is this the start of a trend?   Has Calgary finally lost its immunity?  It’s much too early to tell because of one month’s data.    In recent years between September and October, Calgary’s HPI also fell in:  2007, 2008, 2010 & 2011.

Across Canada, the only cities with a m/m increase were:

  • Edmonton (0.3%)
  • Hamilton (0.4%), and would you believe:
  • Vancouver (0.1%)

Halifax and Hamilton had the largest y/y increases at 8.9% and 7.2% respectively.

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