Calgary House Price Gains Accelerated In May

Signs of correcting house prices seem to be thus far contained in the province of BC according to data released today by the Teranet – National Bank House Price Index™ .

Of the all the major cities tracked by the index, only Victoria and Vancouver saw prices decline year-over-year in May.  For Vancouver it was the tenth straight month of 12-month deflation.

Calgary prices recorded a 2.3% month-over-month gain: the largest across the country.  Year-over-year, Calgary’s index was up 5.8% and is at its highest level since July 2008.

The rate of price increases for Calgary accelerated compared to April.  In April, house prices were up 1.2% month-over-month and 5.5% from the previous year.

In May, for a second consecutive month, the Canada-wide index was up 2.0% from a year earlier, the smallest 12-month increase since November 2009.   However, the composite index was up 1.1% from April and was the ninth time in the 15 years of index data collection that May prices were up 1.0% or more from the month before.

One response to “Calgary House Price Gains Accelerated In May

  1. Amy Everpean

    Calgary is the prettiest place to purchase a home. There are so many great places to buy. My husband and I recently purchased a home there and we couldn’t be happier!

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