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April 20, 2022TERANET-NATIONAL BANK HOUSE PRICE INDEX, MARCH 2022 
Halifax home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), grew 5.4% month-over-month in March 2022. Home prices in Halifax were 34.7% higher when compared to March 2021. Halifax posted the largest month-over-month and 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 2.0% from the previous month.
Monthly home prices were up in all markets except Quebec (-0.6%) led by Halifax (+5.4%) and Hamilton (+3.3%).
Nationally, resale home prices (seasonally adjusted) were up 18.4% in March 2022 from a year earlier. Halifax (+34.7%) posted the 23rd 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 (+28.3%) and Victoria (+22.8%) while the slowest gain was recorded in Edmonton (+5.2%).
Comparing the January-March 2022 period with the same period in 2021, Halifax home prices have averaged 33.1% higher, posting the highest year-to-date gain among the indexes.
Nationally, home prices were up 17.6% in January-March 2022. After Halifax, Hamilton (+27.2%) and Victoria (+22.0%) posted the highest gains while the smallest increase was in Edmonton (+5.1%).
Source: Teranet-National Bank
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