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October 17, 2024TERANET-NATIONAL BANK HOUSE PRICE INDEX, SEPTEMBER 2024 Monthly (September 2024 vs August 2024, seasonally adjusted)
Halifax resale home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), grew 0.8% from August to September.
The composite 11-city index of resale house prices grew 0.5% with gains in eight of 11 urban areas. Montréal reported the fastest gain last month while Québec City reported the steeped decline.
Year-over-year (September 2024 vs September 2023)
Halifax resale home prices were up 4.6% year-over-year. Prices for the 11-city composite index were up 1.0% with gains in eight cities. Calgary reported the fastest paces of growth over September 2023 while Toronto and Hamilton reported the sharpest declines.
Year-to-date (January-September 2024 vs January-September 2023)
Halifax resale home prices were up 6.7% comparing the average of the first three quarters of 2024 with the same period in 2023. Prices were up 3.6% in the 11-city composite index with gains in all cities. Calgary reported the fastest gain while Victoria and Toronto reported the smallest increases.
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 five months.
Halifax and Montréal both set new highs for resale house prices in September.
Source: Teranet-National Bank
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