Canada: Housing prices growth eases slightly in May
June 17, 2020
According to the Teranet-National Bank Composite House Price Index, house price growth decelerated to 1.1% on a month-on-month non-seasonally-adjusted basis in May, weaker than April’s 1.3% increase. In annual terms, house prices were up 5.9% (April: +5.3% year-on-year), marking the strongest rise since March 2018.
In May, prices in 9 of the 11 markets surveyed increased over the month prior. Prices in Hamilton, Halifax and Ottawa increased robustly in May, while prices in Toronto—which accounts for over one-third of the 11-city composite index—grew a firm 2.1% month-on-month.
Author: Steven Burke, Economist