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February 20, 2025TERANET-NATIONAL BANK HOUSE PRICE INDEX, JANUARY 2025 Monthly (January 2025 vs December 2024, seasonally adjusted)
Halifax resale home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), rose by 0.9% from December 2024 to January 2025.
The composite 11-city index of resale house prices edged up 0.01% with gains in seven of 11 urban areas. Québec City reported the fastest gain. Winnipeg and Hamilton reported the largest declines in house prices.
Year-over-year (January 2025 vs January 2024)
Halifax resale home prices were up 5.8% year-over-year. Prices for the 11-city composite index were up 3.5% with gains in all urban centres except Hamilton. Québec City reported the fastest pace of growth over January 2024.
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. However, year-over-year house price growth has a declining trend with fluctuations since the end of 2023. Year-over-year house price growth in Halifax has outpaced national gains in each of the last nine months.
Calgary, Edmonton, Ottawa, Montréal, Québec City, and Halifax set new highs for resale house prices in January.
Source: Teranet-National Bank
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