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November 17, 2021TERANET-NATIONAL BANK HOUSE PRICE INDEX, OCTOBER 2021 
Growth in Halifax home prices, as measured by the Teranet-National Bank House Price Index, grew 0.5% month-over-month in October 2021. Home prices in Halifax were 30.3% higher when compared to October 2020.
Looking at the 11-city composite on the Teranet-National Bank House Price Index, monthly resale home prices were virtually unchanged from the previous month. The slowdown in home prices seen in recent months is 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 seven markets led by Hamilton (+0.9%) and Victoria (+0.7%). Ottawa-Gatineau (-1.0%) posted the largest decline in October.
Nationally, resale home prices were up 15.7% in October from a year earlier. Halifax (+30.3%) posted the 18th consecutive month of double-digit year-over-year gains and continued to lead the 11 cities index.
Following Halifax, the highest year-over-year gains were recorded in Hamilton (+26.5%) and Ottawa-Gatineau (+20.9%) while the slowest gain was recorded in Edmonton (+5.5%).
Comparing the January-October 2021 period with the same period in 2020, Halifax home prices have averaged 27.5% higher, posting the highest year-to-date gain among the indexes.
Nationally, home prices were up 14.2% in January-October 2021. After Halifax, Hamilton (+24.8%) and Ottawa-Gatineau (+23.1%) posted the highest gains while the smallest increases were in Edmonton (+4.3%) and Calgary (+4.8%).
Source: Teranet-National Bank
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