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June 17, 2022TERANET-NATIONAL BANK HOUSE PRICE INDEX, MAY 2022 
Halifax home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), grew 2.8% from April to May 2022. Home prices in Halifax were 33.8% higher when compared to May 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.
The 11-city composite on the Teranet-National Bank House Price Index increased 1.6% from April to May 2022. Monthly home prices were up in all markets except Edmonton (-1.5%).
Nationally, resale home prices (seasonally adjusted) were up 18.2% from May 2021 to May 2022. Halifax (+33.8%) posted the 25th 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 (+28.0%), Victoria (+23.0%) and Toronto (+21.7%). The slowest gain was recorded in Edmonton (+1.7%).
Comparing the January-May 2022 period with the same period in 2021, Halifax home prices have averaged 33.6% higher - the highest gain among the urban areas.
Nationally, home prices were up 18.0% in January-May 2022. After Halifax, Hamilton (+27.7%) and Victoria (+22.3%) posted the highest gains while the smallest increase was in Edmonton (+4.2%).
Source: Teranet-National Bank
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