It has been a flat March for the Canadian housing market, according to The Teranet–National Bank National Composite House Price IndexTM.
This is the first time that the March composite index has not risen by at least 0.2% from February, with the exception of the Recession. It is also the first time outside a recession that March indexes were up for only 4 of the 11 metropolitan areas.
The following cities, saw their indexes increase:
Quebec City (0.1%)
The index for Toronto was flat.
The following cities saw decreasing indexes:
March’s reading was 6.6% up from a year earlier.This is the smallest 12 month rise since May 2016.
March 12-month rise of the composite index by city:
The Quebec City index was down 0.4% from a year earlier.
About Teranet-National Bank National Composite House Price Index™
The data used to calculate the index on a month to month basis is pulled from closed sales registered in the provincial land registry, which include both Centris and private/FSBO sales. The home price trend is illustrated using moving averages over the last three months of raw indexes, from the published indexes of the 11 metropolitan markets entering into the Teranet–National Bank Composite House Price Index.™ This procedure smooths out month-to-month fluctuations. For further information about the methodology, please visit www.housepriceindex.ca
This article, Teranet–National Bank House Price Index: March 2018, appeared first on Shupilov News.