Home prices up 0.2% in November

The downward trend in home prices reversed in November, says the Teranet-National Bank Composite National House Price Index (HPI), released today.

Home prices pushed up 0.2% in November, following a 0.1% drop in October.

Prices rose in six of the 11 markets covered, including Edmonton (0.1%), Calgary (0.2%), Montreal (0.3%), Vancouver (0.4%), Hamilton (0.4%) and Quebec City (1.0%), and remained flat in Toronto, Victoria and Ottawa-Gatineau.

The index only retreated in Halifax (-1.3%) and Winnipeg (-0.6%).

The national HPI increase is atypical for this time of year, the report said. Over the last 10 years, the index has dropped seven times in the month of November.

In addition, the monthly drops in Halifax and Winnipeg constitute the lowest diffusion of declines in November over the decade.

Maddie Johnson

Maddie is a freelance writer and editor who has been reporting for Advisor.ca since 2019.