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July 17, 2024TERANET-NATIONAL BANK HOUSE PRICE INDEX, JUNE 2024 Monthly (June 2024 vs May 2024, seasonally adjusted)
Halifax resale home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), fell 0.8% from May to June.
The composite 11-city index of resale house prices edged down 0.02% with gains in 5 of 11 urban areas. Winnipeg reported the fastest gains over May while Hamilton reported the largest decline.
Year-over-year (June 2024 vs June 2023)
Halifax resale home prices were up 5.6% year-over-year. Prices for the 11-city composite index were up 3.4% with gains in all cities. Calgary reported the fastest pace of growth while Victoria reported the slowest pace of growth.
Year-to-date (January-June 2024 vs January-June 2023)
Halifax resale home prices were up 7.9% comparing the average of the first half of 2024 with the same period in 2023. Prices were up 4.7% in the 11-city composite index with gains in all cities. Calgary reported the fastest gain while Victoria reported the smallest gain.
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 two months.
Prices fell in Halifax in June following an increase in May. Calgary continued to set new highs in resale house prices.
Source: Teranet-National Bank
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