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November 19, 2024TERANET-NATIONAL BANK HOUSE PRICE INDEX, OCTOBER 2024 Monthly (October 2024 vs September 2024, seasonally adjusted)
Halifax resale home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), declined 0.9% from September to October.
The composite 11-city index of resale house prices grew 0.3% with gains in six of 11 urban areas. Québec City reported the fastest gain last month while Victoria reported the steepest decline.
Year-over-year (October 2024 vs October 2023)
Halifax resale home prices were up 1.9% year-over-year. Prices for the 11-city composite index were up 1.5% with gains in eight cities. Québec City and Calgary reported the fastest paces of growth over October 2023 while Hamilton, Toronto and Victoria reported the only declines.
Year-to-date (January-October 2024 vs January-October 2023)
Halifax resale home prices were up 6.2% comparing the average of the first ten months of 2024 with the same period in 2023. Prices were up 3.4% in the 11-city composite index with gains in all cities. Calgary reported the fastest gain while Victoria and Toronto reported the smallest gains.
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 six months.
Québec City and Montréal set new highs for resale house prices in October.
Source: Teranet-National Bank
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