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August 19, 2025TERANET-NATIONAL BANK HOUSE PRICE INDEX, JULY 2025 Monthly (July 2025 vs June 2025, seasonally adjusted)
Halifax resale home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), rose slightly by 0.05% from June to July.
The composite 11-city index of resale house prices declined 0.8% with declines in seven of 11 urban areas. Hamilton reported the largest decline and Québec City reported the largest monthly growth.
Year-over-year (July 2025 vs July 2024)
Halifax resale home prices were up 4.8% year-over-year. Prices for the 11-city composite index were down 2.7%, the third 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 July 2024 while the fastest decline was in Toronto followed closely by Hamilton.
Year-to-date (January-July 2025 vs January-July 2024)
Halifax home prices were up 5.7% in the first seven 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 0.4%. 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 July 2025, the national index saw a third consecutive year-over-year decline, the first three 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.
Québec City set a new high for resale house prices in July.
Source: Teranet-National Bank
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