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February 20, 2024TERANET-NATIONAL BANK HOUSE PRICE INDEX, JANUARY 2024 Monthly (January 2024 vs December 2023, seasonally adjusted)
Halifax resale home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), rose 0.1% from December to January.
The composite 11-city index of resale house prices decreased 0.3%. The gains in 9 of 11 urban areas were offset by declines in Toronto and (notably) Vancouver.
Year-over-year (January 2024 vs January 2023)
Halifax resale home prices were up 10.3% from January 2023 to January 2024 - the fastest growth among the 11 cities in the composite index. Prices for the 11-city composite index were up 3.7% with gains in all cities. Toronto, Edmonton and Victoria reported slower paces of growth.
Trends
After recording year-over-year house price declines for most of the first half of 2023, Halifax resale home prices returned to positive year-over-year growth starting in the second half of 2023. Year-over-year house price growth in Halifax has outpaced national gains in each of the last 6 months.
In January 2024, there were new highs set for resale home prices in Halifax, Québec City and Calgary.
Source: Teranet-National Bank
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