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July 18, 2025TERANET-NATIONAL BANK HOUSE PRICE INDEX, JUNE 2025 Monthly (June 2025 vs May 2024, seasonally adjusted)
Halifax resale home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), rose 2.0% from May to June, the largest increase among cities included in the 11-city index.
The composite 11-city index of resale house prices declined 0.5% with declines in six of 11 urban areas. Ottawa and Calgary reported the largest monthly declines.
Year-over-year (June 2025 vs June 2024)
Halifax resale home prices were up 5.0% year-over-year. Prices for the 11-city composite index were down 1.9%, the second consecutive month of year-over-year declines despite gains in eight of 11 urban centers. Prior to May 2025, the 11-city composite index hadn't reported a decline since July of 2023. Québec City reported the fastest pace of growth over June 2024 while the fastest decline was in Toronto.
Year-to-date (January-June 2025 vs January-June 2024)
Halifax home prices were up 5.8% in the first six 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 0.9%. Every city in the index except Toronto, Hamilton and Vancouver 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. In June 2025, the national index saw a second consecutive year-over-year decline, the first two declines reported since July 2023. Year-over-year house price growth in Halifax has outpaced national gains in all but one month since returning to positive growth in 2023.
Winnipeg, Edmonton, Montréal and Québec City set new highs for resale house prices in June.
Source: Teranet-National Bank
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