The Teranet/National Bank house price index
Lowest y/y rise since 2009
Prior was +3.1%
-0.3% m/m vs -0.3% prior
From Teranet:
"The recent trend of home prices is clearly downward in most metropolitans markets. For Calgary December was a sixth straight month without an index rise, a cumulative decline of 2.0%; for Vancouver a fifth straight month and a cumulative loss of 2.9%; for Edmonton a fourth straight month and a cumulative loss of 2.7%. For Victoria, Winnipeg and Hamilton it was a third straight month, with cumulative losses of 0.5%, 1.6% and 1.0% respectively," the report said.
The Bank of Canada has highlighted home prices as a clear risk. They had predicted stable prices a few months ago but they're clearly trending lower.
