Canada: Housing prices growth continues to ease in June
July 20, 2020
According to the Teranet-National Bank Composite House Price Index, house price growth decelerated to 0.7% on a month-on-month non-seasonally-adjusted basis in June, from May’s 1.1%. In annual terms, house prices were up 5.9%, virtually identical to the month prior—which had marked the strongest rise since March 2018.
In June, prices in 9 of the 11 markets surveyed increased over the month prior. Prices in Halifax, Winnipeg and Hamilton increased robustly, while prices in Toronto—which accounts for over one-third of the 11-city composite index—grew a healthy 0.8% month-on-month.
Author: Steven Burke, Economist