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December 18, 2019TERANET-NATIONAL BANK HOUSE PRICE INDEX, NOVEMBER 2019 
In November, Halifax home prices as measured by the Teranet-National Bank House Price Index decreased by 1.3 per cent compared with October, falling just below levels observed in August and September. With the recent run of price increases, Halifax house price levels were up 6.8 per cent compared to November 2018.
Monthly resale home prices edged up 0.2 per cent for the 11-city composite of the Teranet-National Bank House Price Index, reversing the 0.1 per cent drop reported for October. Higher housing prices were reported for 8 of 11 cities in October, with the largest monthly increases in Quebec City (1.0 per cent), Hamilton (0.4 per cent) and Vancouver (0.4 per cent). The two substantial monthly house price declines were observed in Halifax (-1.3 per cent) and Winnipeg (-0.6 per cent).
National year-over-year price growth increased to 1.4 per cent in November. Home price inflation has slowed considerably from the pace observed in 2017. Year-over-year price growth in Halifax has slowed to 6.8 per cent in November after accelerating from April to October.
Halifax year-over-year price growth slowed to 6.8 per cent in November. Year-over-year prices were positive in 8 of the 11 major metropolitan markets, with the largest increases in Ottawa-Gatineau (+8.1 per cent), followed by Halifax, Montreal (6.4 per cent) and Winnipeg (5.0 per cent). Price declines were reported for Vancouver (-5.2 per cent), Edmonton (-2.7 per cent) and Calgary (-0.9 per cent).
Year to date (comparing average prices from Jan-Nov 2019 with the same monts of 2018), Halifax home prices were up 3.8 per cent, while the National index increased 1.1 per cent. Prices were up in 8 of the 11 metropolitan markets, with the largest increase in Ottawa-Gatineau (6.5 per cent). Price declines have occurred in Vancouver (-4.2 per cent), Calgary (-2.6 per cent) and Edmonton (-2.1 per cent) compared to the first eleven months of 2018.
Source: Teranet National-Bank
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