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February 17, 2022TERANET-NATIONAL BANK HOUSE PRICE INDEX, JANUARY 2022 
Halifax home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), grew 1.8% month-over-month in January 2022. Home prices in Halifax were 31.8% higher when compared to January 2021. Halifax posted the largest year-over-year gain in resale home prices among the cities included in the national index.
Looking at the 11-city composite on the Teranet-National Bank House Price Index (seasonally adjusted), monthly resale home prices increased 1.7% from the previous month.
Monthly home prices were up in all markets led by Toronto (+2.4%) and Victoria (+2.2%). Quebec (+0.1%) and Edmonton (+0.4%) posted the smallest gain in January 2022.
Nationally, resale home prices (seasonally adjusted) were up 16.6% in January 2022 from a year earlier. Halifax (+31.8%) posted the 21st 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 (+25.3%) and Victoria (+20.8%) while the slowest gain was recorded in Edmonton (+4.9%).
Note: In previous Teranet-National Bank House Price Index articles unadjusted house price index was used while in this article seasonally adjusted house price index is used.
Source: Teranet-National Bank
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