Canada: Housing prices growth continues to slow in July
August 20, 2020
According to the Teranet-National Bank Composite House Price Index, house price growth decelerated to 0.3% on a month-on-month non-seasonally-adjusted basis in July, from June’s 0.7%. In annual terms, house prices were up 5.5% in July, which was down from the previous month’s 5.9% rise.
In July, prices in 9 of the 11 markets surveyed increased over the month prior. Prices in Quebec City, Winnipeg and Ottawa increased robustly, while prices in Toronto—which accounts for over one-third of the 11-city composite index—grew a healthy 0.3% month-on-month.
Author: Steven Burke, Economist