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November 17, 2023TERANET-NATIONAL BANK HOUSE PRICE INDEX, OCTOBER 2023 Monthly (October 2023 vs September 2023, seasonally adjusted)
Halifax resale home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), increased 1.1% from September to October.
The composite 11-city index of resale house prices decreased 0.4% with gains in 7 of 11 urban areas. Montréal reported the largest gain while Toronto reported the largest decline.
Year-over-year (October 2023 vs October 2022)
Halifax resale home prices were up 12.8% from October 2022 to October 2023 - the fastest gain among the 11 cities in the composite index. Prices for the 11-city composite index were up 2.9% with gains in 9 of 11 cities. Edmonton reported the largest year-over-year decline.
Year-to-date (January-October 2023 vs January-October 2022)
Halifax resale home prices were down 0.1% comparing the average of the first ten months of 2023 with the same period in 2022. Prices were down 3.1% in the 11-city composite index with declines in 8 of the 11 cities. Hamilton reported the largest decline while Calgary reported the biggest gain.
Trends
After recording year-over-year house price declines for most of the first half of 2022, Halifax resale home prices have again returned to positive year-over-year growth in the last four months.
With price gains in the last two months, there were new highs set for resale home prices in: Halifax, Québec City and Calgary.
Source: Teranet-National Bank
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