A key measure of changes in Canadian home prices has posted a decline for November.<\/p>\n
The Teranet-National Bank National Home Price Index rarely posts a decline in November \u2013 it\u2019s done so just 4 times in the 20 years \u2013 but it recorded a 0.3% decline from the previous month.<\/p>\n
Subscribe to CREW <\/em>for the best in real estate news and insight \u2013 whatever the season. Most markets declined with Quebec City, Halifax, and Victoria the exceptions.<\/p>\n It was the second consecutive monthly decline with tighter mortgage lending rules and a rise in interest rates among the factors that have cooled demand significantly in some markets.<\/p>\n In Vancouver, November was a fourth month in a row without a rise in home prices, for a cumulative drop of 1.8%; and in Toronto, prices declined over the last three months, for a total loss of 0.4%.<\/p>\n There are also weak markets in Alberta, where prices did not rise for a fifth month in a row in Calgary, and for a third consecutive month in Edmonton, for cumulative declines of 1.4% and 1.3% respectively.<\/p>\n The index for Victoria was flat while Halifax (0.1%) and Quebec City (1.2%) both gained.<\/p>\n The HPI tracks price changes based a percentage rise or fall from a value of 100 set in June 2005.<\/p>\n Annual increases<\/strong> Victoria (5.3%), Ottawa-Gatineau (5.3%), Montreal (4.4%), Hamilton (4.4%), Vancouver (3.9%) and Toronto (3.3%) all posted above-national-average increases and there were smaller gains for Winnipeg (2.3%) and Halifax (1.7%).<\/p>\n Indexes were down year-over-year in Quebec City (\u22120.3%), Edmonton (\u22120.4%) and Calgary (\u22122.7%).<\/p>\n","protected":false},"excerpt":{"rendered":" A key measure of changes in Canadian home prices has posted a decline for November. The Teranet-National Bank National Home Price Index rarely posts a decline in November \u2013 it\u2019s done so just 4 times in the 20 years \u2013 but it recorded a 0.3% decline from the previous month. Subscribe to CREW for the […]<\/p>\n","protected":false},"author":3,"featured_media":20738,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8128"}],"collection":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/comments?post=8128"}],"version-history":[{"count":2,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8128\/revisions"}],"predecessor-version":[{"id":21598,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8128\/revisions\/21598"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media\/20738"}],"wp:attachment":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media?parent=8128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/categories?post=8128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/tags?post=8128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nWhile down month-over-month, the national HPI was up 3.1% year-over-year; exacerbated by a sharp drop in the previous three months.<\/p>\n