Home prices rose for fourth straight month in August

Home prices rose again in August, marking the fourth straight of gains after the slowest period of growth in almost a decade, according to the Teranet-National House Price Index (HPI) report, released on Thursday. 

Year over year, the HPI grew to a below-inflation rate of 0.6% nationwide, up from a 0.4% year-over-year increase in July. 

The report described growth as “decent” in most of the regions in Eastern and Central Canada. 

On a monthly basis, the index rose in 8 of the 11 markets covered: Victoria (+0.2%), Calgary (+0.6%), Hamilton (0.7%), Winnipeg (0.7%), Toronto (+0.8%), Montreal (1.1%), Ottawa-Gatineau (1.7%) and Halifax (1.8%). 

The HPI was down month-over-month in Vancouver (-0.8%), Quebec City (-0.4%) and Edmonton (-0.1%).

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.