Canadian home prices up in May, Ottawa stable: Teranet housing index

The Canadian Press ~ OBJ
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Canadian home prices were up in May, rising 0.8 per cent over the previous month, according to the Teranet National Bank National Composite House Price Index.

(Stock image)

The index said Ottawa prices remained unchanged while prices rose in Hamilton, Quebec City and Toronto, as well as Calgary, Edmonton and Montreal.

Calgary's advance was the fourth in a row exceeding one per cent, taking prices in that city to a new high. New records were also reached in Hamilton and Toronto.

Halifax had the strongest month-to-month price in its history, with an increase of 3.1 per cent after price drops earlier this year.

Prices fell in Victoria and Winnipeg.

The increase was the fifth smallest for May in the 16 years covered by the index, with prices were up 4.6 per cent from a year earlier, below the annual rate of growth.

The Teranet National Bank House Price Index tracks prices for repeat home sales in six metropolitan areas: Ottawa, Toronto, Calgary, Vancouver, Montreal and Halifax.

Organizations: National Bank House

Geographic location: Ottawa, Toronto, Calgary Hamilton Montreal Halifax Quebec City Edmonton Victoria Winnipeg Vancouver

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