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November 18, 2020TERANET-NATIONAL BANK HOUSE PRICE INDEX, OCTOBER 2020 
In October 2020, Halifax home prices as measured by the Teranet-National Bank House Price Index increased 1.5% from the previous month. Compared to a year earlier, home prices were up 12.4% in Halifax.
Looking at the 11-city composite of the Teranet-National Bank House Price Index, monthly resale home prices increased 1.3% month-over-month in October, the strongest gain in 22 years of data. Monthly home prices were up in all markets, led by the gains recorded in Ottawa-Gatineau (+2.7%), Hamilton (+2.1%) and Montreal (+1.8%). The index for Calgary reported smallest gain (+0.1%).
Nationally, house prices increased 8.1% year-over-year in October, following a 6.7% gain recorded in the previous month. Halifax (+12.4%) recorded the sixth consecutive month of double digit gains over the same months in 2019. In the 11-city composite index, year-over-year housing prices grew fastest in Ottawa-Gatineau (+17.1%). Compared to October 2019, home prices were down in Calgary (-2.3%).
Nationally, house prices increased 5.2% year-to-date (Jan-Oct 2020 vs Jan-Oct 2019). Halifax (+9.9%) recorded the second largest year-to-date gain among the 11-city composite index, just behind Ottawa-Gatineau (+12.5%). Compared to Jan-Oct 2019, home prices were down in Edmonton (-1.7%) and Calgary (-1.7%).
Source: Teranet-National Bank
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