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Canada’s Housing Price Index Rose in June and July, But Still Below Historical Average

In Montreal, the House Price Index rose by 1.3%. 

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The Teranet–National Bank National Composite House Price IndexTM report for July showed a 0.8% from increase relative to the previous month. The gain lies below the historical average for those two months (1.0% for July). If seasonal variations are removed from If the index, then the seasonally adjusted index would have decreased in June and flatlined in July. 

In Montreal, the House Price Index rose by 1.3%.

Other metropolitan cities recorded increases of:

  • Ottawa-Gatineau (2.3%)
  • Winnipeg (1.9%)
  • Halifax (1.2%)
  • Hamilton (1.1%)
  • Toronto (0.8%)
  • Edmonton (0.7%)
  • Quebec City (0.6%)
  • Vancouver (0.4%)
  • Victoria (0.4%)
  • Calgary (0%)

Due to the seasonally adjusted results, recent monthly rises can be understood as merely reflecting seasonal pressures, rather than revealing an underlying trend.

The decline in seasonally adjusted index can be attributed to a steady decline in non-condo housing.

Montreal’s index stands out for its advance in 17 of the 19 months since January 2017, a showing equalled only by Vancouver.

Related:

Teranet-National Bank National Composite House Price Index™

Source: Teranet

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This article, Canada’s Housing Price Index Rose in June and July, But Still Below Historical Average, appeared first on Shupilov News. 

 

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