12-MONTH HOME PRICE INFLATION UNCHANGED IN MAY AT 2.0%
Wednesday Mar 08th, 2017Share
In May, for a second consecutive month, the Teranet-National Bank National Composite House Price Index™ was up 2.0% from a year earlier, the smallest 12-month increase since November 2009. By way of comparison, the Case-Shiller home price index of 20 U.S. metropolitan markets was up 10.9% from a year earlier in March (the latest available reading). In Canada, the price gain over the 12 months ending in May exceeded the cross-country average in seven of the 11 markets surveyed for the national composite index: Quebec City (6.5%), Calgary (5.8%), Hamilton (5.8%), Winnipeg (4.6%), Edmonton (4.0%), Toronto (3.9%) and Halifax (2.3%). The 12-month increase matched the average in Ottawa-Gatineau (2.0%) and lagged it in Montreal (1.9%). Prices were down from a year earlier in Victoria (−4.1%) and Vancouver (−3.2%). For Vancouver it was the tenth straight month of 12-month deflation.