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May 20, 2025TERANET-NATIONAL BANK HOUSE PRICE INDEX, APRIL 2025 Monthly (April 2025 vs March 2024, seasonally adjusted)
Halifax resale home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), fell 4.9% from March to April, the fastest decline among the 11 cities included in the index.
The composite 11-city index of resale house prices declined 1.5% with declines in nine of 11 urban areas. Edmonton and Calgary reported the only monthly increases
Year-over-year (April 2025 vs April 2024)
Halifax resale home prices were up 3.9% year-over-year. Prices for the 11-city composite index were up 0.2% with gains in eight urban centres. Québec City reported the fastest pace of growth over April 2024 while the fastest decline was in Toronto.
Year-to-date (January-April 2025 vs January-April 2024)
Halifax home prices were up 7.2% in the first four months of 2025 when compared with the same period in 2024. This was above the 11-city index average growth in resale home prices of 2.2%. Every city in the index except Toronto and Hamilton reported gains in home prices, with Québec City reporting the largest increase.
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 slowed through 2024. Year-over-year house price growth in Halifax has outpaced national gains in all but one month since returning to positive growth in 2023.
Calgary and Edmonton set new highs for resale house prices in April.
Source: Teranet-National Bank
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