Calgary home prices bounced back in June following a record drop the previous month according to the Teranet–National Bank House Price Index released today.
Prices fell -3.3% in May, the largest monthly drop recorded for the region and for the first time since July 2011, were lower than the year before.
Most of those losses were erased in June as Calgary house prices rebounded 2.5% month-over-month and eked out a 0.2% year-over-year gain. Prices are now off -2.7% from the October 2014 peak.
The Teranet–National Bank House Price Index™ is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index. This is known as the repeat sales method.