Prices rose 0.3% during the month, and 4.1% on the year. The opposite was seen in the U.S. market in December, where prices were down 4.1% in December compared to a year earlier, according to the Standard & Poorâ€™s/Case Schiller Home Price Index.
Prices rose in five of six metropolitan Canadian markets covered by the Teranet index. Ottawa was the exception, dropping 0.4% for a fourth consecutive month of decline, although still up 6.3% on the year. Calgary was the only market to decline on the year, dropping 2.94%, although up 0.1% in December over the previous month.
The index measures price changes for repeat sales of single-family homes.
Vancouver and Toronto reported modest increases of 0.5% and 0.2%, respectively.
â€œData for January from the Canadian Real Estate Association show generally balanced conditions in major urban markets. Toronto and Vancouver could even be considered very tight markets,â€ said the Teranet report.
Halifax prices jumped the most in the index in December, up 3.6%.
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