Calgary Prices Highest Since August 2008: Teranet HPI

In an effort to become more timely & relevant,  the Teranet – National Bank House Price Index™ is now being published no later than 15 days after the transaction month, similar to the MLS® HPI.

April’s data for Canada was released today showing the composite index was up 2.0% from a year earlier, the smallest 12-month rise since November 2009.   Month-over-month, the index was up 0.2%. Except for April 2009, when the country was in recession, it was the weakest April monthly change in the 15 years since the inception of the index

Calgary home prices continued rising in April.  Prices increased 1.2% from the previous month and were up 5.5% year-over-year.  The monthly & annual gains were the second highest in Canada.

HPI April 2013

Calgary’s index, now at 163.06, has rebounded to the highest level since August 2008.    The index peaked in September 2007 at 174.00  Afterwards it bottomed out in June 2009 at 147.68.

hpi chart - april 2013

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.

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