Vancouver and Calgary show downtrend in home prices: National Bank

Vancouver and Calgary showed a downtrend in home prices consistent with a weakness in sales reported by real estate boards in those regions, according to the September Teranet-National Bank House Price Index.

The index showed home prices rose in five cities for the month: Winnipeg, Montreal, Victoria, Hamilton and Ottawa-Gatineau, while they fell in Toronto, Calgary, Halifax and Quebec City.

Prices were stable in Vancouver and Edmonton.

Year over year, the index rose 2.1%. The largest annual increases were in Vancouver, Victoria, Ottawa-Gatineau, Montreal and Halifax. Conversely, the largest declines were in Edmonton, Toronto and Calgary over the previous year.

“Seasonally adjusted indices extended a string of solid increases over the last few months in Montreal and Ottawa-Gatineau,” said Marc Pinsonneault, senior economist at National Bank, in the report. “Again, this is consistent with the performance of the home resale market.”

Read highlights from the house price index.

Staff

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