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September 20, 2021TERANET-NATIONAL BANK HOUSE PRICE INDEX, AUGUST 2021 
Growth in Halifax home prices, as measured by the Teranet-National Bank House Price Index, slowed for the fourth consecutive month to 1.0% month-over-month in August 2021. Home prices in Halifax were 32.4% 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 third consecutive month to 1.0% month-over-month in August 2021. The slowdown in home prices seen in August was consistent with the slowdown in the number of home sales in recent months according to the Canadian Real Estate Association’s data.
Monthly home prices were up in all markets led by Ottawa-Gatineau and Montreal (both at +2.1%). Edmonton (+0.6%) and Toronto (+0.7%) posted the slowest gains in August.
Nationally, resale home prices were up 18.4% in August from a year earlier. This was the 13th consecutive acceleration and the strongest year-over-year gain since the series began in 2000. Halifax (+32.4%) posted the 16th 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 (+30.2%) and Ottawa-Gatineau (+28.8%) while slowest gain was recorded in Edmonton (+7.0%).
Comparing the January-August 2021 period with the same period in 2020, Halifax home prices have averaged 26.6% higher, posting the highest year-to-date gain among the composite indexes.
Nationally, home prices were up 13.6% in January-August 2021. After Halifax, Hamilton (+24.1%) and Ottawa-Gatineau (+23.1%) posted the highest gains while the smallest increases were in Calgary (+3.9%) and Edmonton (+4.0%).
Source: Teranet-National Bank
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