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December 17, 2020TERANET-NATIONAL BANK HOUSE PRICE INDEX, NOVEMBER 2020 
In November 2020, Halifax home prices as measured by the Teranet-National Bank House Price Index increased 1.6% from the previous month. Compared to a year earlier, home prices were up 15.7% in Halifax.
Looking at the 11-city composite of the Teranet-National Bank House Price Index, monthly resale home prices increased 0.9% month-over-month in November, the second consecutive strongest gain in 22 years of data. Monthly home prices were up in all markets, led by the gains recorded in Hamilton (+1.9%), Halifax (+1.6%) and Montreal (+1.4%). The index for Calgary reported smallest gain (+0.2%).
Nationally, house prices increased 9.0% year-over-year in November, following a 8.1% gain recorded in the previous month. Halifax (+15.7%) recorded the seventh 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 (+18.7%). Compared to November 2019, home prices were down in Calgary (-2.3%).
Nationally, house prices increased 5.5% year-to-date (Jan-Nov 2020 vs Jan-Nov 2019). Halifax (+10.4%) recorded the second largest year-to-date gain among the 11-city composite index, just behind Ottawa-Gatineau (+13.1%). Compared to Jan-Nov 2019, home prices were down in Calgary (-1.8%) and Edmonton (-1.5%).
Source: Teranet-National Bank
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