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August 19, 2021TERANET-NATIONAL BANK HOUSE PRICE INDEX, JULY 2021 
Growth in Halifax home prices, as measured by the Teranet-National Bank House Price Index, slowed to 3.0% month-over-month in July 2021. Home prices in Halifax were 33.4% higher when compared to a year earlier.
Looking at the 11-city composite on the Teranet-National Bank House Price Index, monthly resale home price growth slowed for the second consecutive month to 2.0% month-over-month in July 2021. The increase in home prices seen in July was consistent with the increase in the number of home sales over the last several months according to the Canadian Real Estate Association’s data.
Monthly home prices were up in all markets led by Ottawa-Gatineau (+3.7%) and Halifax (+3.0%). Quebec City (+1.0%) and Edmonton (+1.2%) posted the slowest gains in July.
Nationally, resale home prices were up 17.8% in July from a year earlier. This was the 12th consecutive acceleration and the strongest year-over-year gain since the series began in 2000. Halifax (+33.4%) posted the 15th consecutive month of double-digit gains year-over-year and continued to lead the 11 cities index.
Following Halifax, the highest year-over-year gains were recorded in Hamilton (+30.1%) and Ottawa-Gatineau (+28.9%) while slowest gain was recorded in Edmonton (+6.5%).
Comparing the January-July 2021 period with the same period in 2020, Halifax home prices have averaged 25.7% higher, posting the highest year-to-date gain among the composite indexes.
Nationally, home prices were up 12.8% in January-July 2021. After Halifax, Hamilton (+23.2%) and Ottawa-Gatineau (+22.2%) posted the highest gains while the smallest increases were in Calgary (+3.3%) and Edmonton (+3.5%).
Source: Teranet-National Bank
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