Canada: Housing prices growth loses some steam in November
According to the Teranet-National Bank Composite House Price Index, house price growth decelerated to 0.9% on a month-on-month non-seasonally-adjusted basis in November, from October’s 1.3%. In annual terms, house prices were up 9.0% in November, which was up from the previous month’s 8.1% rise.
In November, prices in all 11 markets surveyed increased over the month prior. Prices in Hamilton, Halifax and Montreal increased robustly, while prices in Toronto—which accounts for over one-third of the 11-city composite index—grew 0.9% month-on-month.