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August 19, 2024TERANET-NATIONAL BANK HOUSE PRICE INDEX, JULY 2024 Monthly (July 2024 vs June 2024, seasonally adjusted)
Halifax resale home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), grew 0.8% from June to July.
The composite 11-city index of resale house prices grew 0.2% with gains in 6 of 11 urban areas. Hamilton reported the fastest gain over June while Ottawa reported the largest decline.
Year-over-year (July 2024 vs July 2023)
Halifax resale home prices were up 2.9% year-over-year. Prices for the 11-city composite index were up 1.9% with gains in all cities except Toronto. Calgary reported the fastest pace of growth over July 2023.
Year-to-date (January-July 2024 vs January-July 2023)
Halifax resale home prices were up 7.1% comparing the average of the first seven months of 2024 with the same period in 2023. Prices were up 4.3% in the 11-city composite index with gains in all cities. Calgary reported the fastest gain while Victoria reported the smallest gain.
Trends
After recording year-over-year house price declines for most of the first half of 2023, Halifax resale home prices returned to positive year-over-year growth starting in the second half of 2023. Year-over-year house price growth in Halifax has outpaced national gains in each of the last three months.
Calgary continued to set new highs in resale house prices in July.
Source: Teranet-National Bank
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