Single-family home prices drop in almost half of cities

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There was a slight drop in Canada’s house prices in December according to the latest Teranet-National Bank Composite House Price Index. Repeat sales of single-family homes slipped by 0.2 per cent from the month earlier. Five of the eleven cities studied saw declining prices; Halifax had the largest drop (1.9 per cent) followed by Calgary (1.1 per cent), Quebec (1.0 per cent), Montreal (0.9 per cent) and Vancouver (0.4 per cent). There were increases for Toronto (0.3 per cent), Edmonton (0.2 per cent), Hamilton (0.1 per cent) and Ottawa (0.1 per cent). Prices in Winnipeg and Victoria were unchanged. Annually there were increases in all cities except Quebec and Halifax and the national increase was 4.9 per cent. 
  • Ken McClelland on 2015-01-15 10:18:29 AM

    It is great to see some stats other than Vancouver/Toronto/Calgary re price trends. I am a Remax agent in Kamloops BC (pop. ~85,000), and convincing sellers that prices are flat at best, and likely trending slightly downward is tough in the face of "facts" they hear on the news regularly re pricing. Thanks.

  • Anthony C. on 2015-01-15 1:28:36 PM

    @ Ken

    Now all we have to do is suggest to Royal LePage to wait for their press release on future housing sales stats, to happen after they read the Teranet Index...

  • judy on 2015-01-15 3:24:59 PM

    Thanks, Ken! At last someone realizes that our country/economy consists of more than "A Take of Three Cities!" Do they know that in Europe?

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