Calgary Home Prices Declined In December: Teranet HPI

Calgary home prices were down from the previous month for the second time in three months, this time falling -0.9% in December.  It was the largest month-over-month decline since November 2011 when prices declined -1.6%.

Even with the monthly decline, Calgary prices were still up 4.1% from a year earlier which exceeded the national average of 3.1%.

Before October (-0.2%) and December (-0.9%), the last time prices were down month-over-month in Calgary was back in March.

Here’s how the m/m percentage change for Calgary has looked over the last couple years:

Jan-2011 -1.0%
Feb-2011 -0.3%
Mar-2011 -0.3%
Apr-2011 0.4%
May-2011 0.5%
Jun-2011 1.7%
Jul-2011 2.5%
Aug-2011 0.7%
Sep-2011 -0.8%
Oct-2011 -1.5%
Nov-2011 -1.6%
Dec-2011 0.7%
Jan-2012 -0.3%
Feb-2012 -0.6%
Mar-2012 -0.7%
Apr-2012 1.4%
May-2012 2.0%
Jun-2012 1.7%
Jul-2012 0.2%
Aug-2012 0.4%
Sep-2012 0.5%
Oct-2012 -0.2%
Nov-2012 0.4%
Dec-2012 -0.9%

Below are some other city streaks:

  •  For Montreal (−0.3%) and Ottawa-Gatineau (−0.1%) it was the fourth straight monthly decline.
  • For Halifax (−0.7%), Winnipeg (-0.7%) and Toronto (−0.3%) it was the third.
  • For Edmonton (−0.1%) it was the third in fourth months
  • For Vancouver (-1.0%) the fifth in six months
  • Prices were up 1.7% on the month in Quebec City, ending a run of four monthly declines, and
  • Prices were up 0.9% in Victoria. The monthly gain in Victoria followed four straight months of retreat

HPI Dec 2012

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