20 September 2019

Nevertheless, with seasonally adjusted results, the index shows a slight increase, changing the tendency reported in the previous three months and putting an end to a downtrend after correction.

The overall index reached 227.51, which means a 0.6% annual increase. Although it’s quite small, it’s still important as it’s the first gain in 9 months.

Vancouver reported a 13th month without growth, showing a 0.8% HPI decline last month. The decreases were also seen in Edmonton (−0.1%) and Quebec City (−0.4%), with the latter changing the trend after three monthly hikes.

At the same time, Vancouver home sales rose by 55% in August compared to March. Here the market conditions switched from “favorable for buyers” to “balanced”. During the same period, home sales were also up by 19% in Calgary and by 12% in Edmonton. In case such improvements continue, it could limit the prices decline in this area at some point.

The HPI increases were reported in Victoria (0.2%), Calgary (0.6%), Hamilton (0.7%), Winnipeg (0.7%), Toronto (0.8%), Montreal (1.1%), Ottawa-Gatineau (1.7%) and Halifax (1.8%).