Forgetting that real estate is highly regional, some pundits have been predicting a Canada-wide housing crash for years now. According to the October release of the Teranet-National Bank HPI, composite prices have now risen year-over-year for sixty-one straight months dating back to October 2009.
In Calgary, repeat home sale prices increased 0.5% between September and October. That’s the 10th consecutive monthly gain, the longest current active streak of all the cities tracked by the index. Year-over-year, prices in Calgary increased by a nation-leading 9.1%.
Victoria remained the only city with prices down y/y in October: -0.1%.
Aside from Calgary, Toronto and Hamilton also saw large annual gains of 7.4% and 7.3%. Not far behind was Vancouver, the city that was supposedly in the midst of a crash a few year back, with a year-over-year hike of 6.5% and the highest monthly jump of 1.2%.