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April 20, 2021TERANET-NATIONAL BANK HOUSE PRICE INDEX, MARCH 2021 
Halifax home prices as measured by the Teranet-National Bank House Price Index increased 3.3% month-over-month in March 2021. Home prices in Halifax were 22.5% higher when compared to a year earlier.
Looking at the 11-city composite on the Teranet-National Bank House Price Index, monthly resale home prices increased 1.5% month-over-month in March 2021. Month home prices were up in all markets led by Halifax (+3.3%) and Hamilton (+2.8%). Edmonton (+0.3%) posted the lowest gain in March. It was the first time since last November that all 11 markets of the composite index were up from the month before.
Nationally, resale home prices increased 10.8% in March 2021. This was the eight consecutive acceleration and the highest year-over-year gain since September 2017. Halifax (+22.5%) posted the eleventh consecutive month of double-digit gains year-over-year. It was also the highest gain among the 11 cities in the index.
Following Halifax, the highest year-over-year gains were recorded in Hamilton (+20.9%), Ottawa-Gatineau (+19.0%) and Montreal (+16.1%).
Comparing the Jan-March 2021 period with the same period in 2020, Halifax home prices have averaged 19.4% higher, posting the highest year-to-date gain among the composite index.
Nationally, home prices were up 10.0% in January-March. After Halifax, Ottawa-Gatineau (+19.2%) and Hamilton (+18.5%) posted the highest gains while the smallest increase was in Calgary (+0.7%).
Source: Teranet-National Bank
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