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May 17, 2024TERANET-NATIONAL BANK HOUSE PRICE INDEX, APRIL 2024 Monthly (April 2024 vs March 2024, seasonally adjusted)
Halifax resale home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), declined 0.7% from March to April.
The composite 11-city index of resale house prices edged up 0.01% with gains in 7 of 11 urban areas. Edmonton reported the fastest gains over March while Québec City and Victoria reported the largest declines.
Year-over-year (April 2024 vs April 2023)
Halifax resale home prices were up 4.7% year-over-year. Prices for the 11-city composite index were up 5.6% with gains in all cities. Calgary reported the fastest pace of growth while Victoria reported the slowest pace of growth.
Year-to-date (January-April 2024 vs January-April 2023)
Halifax resale home prices were up 7.6% comparing the average of the first four months of 2024 with the same period in 2023. Prices were up 4.8% in the 11-city composite index with gains in all cities. Calgary and Quebec City reported the fastest gains while Victoria 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 have fallen behind national gains in April, after 9 months of out-pacing the 11 city composite average.
Prices declined in each of the four most recent months in Halifax. Calgary and Edmonton continue to set new highs in resale house prices.
Source: Teranet-National Bank
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