Canada home prices rise by 1.5% in February  

Canadian home price growth accelerated again in February from January, rising 1.5 percent for the month as prices grew in nine of the 11 major cities.

In January, the Teranet-National Bank Composite House Price Index, which measures repeat sales of single-family houses in major Canadian areas, increased by 1.3 percent over December. The data is not adjusted for the season.

On an annual basis, home price rises accelerated in February, with the index reaching 17.7% from a year ago, up from 16.6% in January and edging closer to the all-time high of 18.4% set in August 2021.

Halifax, Nova Scotia, had the fastest-rising property prices among Canada‘s big cities in February, up 32.5 percent year over year and 3.0 percent month over month. Home prices in Hamilton, Ontario increased 27.9% year over year and 3.1 percent month over month.

All 11 major cities improved year over year, and the 18 additional cities not included in the main index also improved year over year.

Separate statistics from Canada’s realtors earlier this week indicated that home selling prices hit a new all-time high in February, as buyers pounced on rising supply.

Latest articles

Taliban plans pact with UAE to run Afghan airports

After months of discussions with the UAE, Turkey, and Qatar, the Taliban's acting deputy prime minister said on Tuesday that the organization will sign...

Close contacts of monkeypox cases to get vaccines in Denmark

The Danish Health Authority said on Tuesday that Bavarian Nordic (BAVA.CO) will deliver immunizations to close relatives of monkeypox patients. Director Bolette Soborg told media,...

Uber to start taxis in Italy to expand business

Uber Technologies Inc announced on Tuesday that it has reached an agreement to connect its ride-hailing app with Italy's top taxi dispatcher in order...

Italy to open beach bar licenses by end 2024

Politicians in Italy agreed on Tuesday to set a deadline of the end of 2024 for completing tenders for lucrative contracts to run bars...

Related articles

Leave a reply

Please enter your comment!
Please enter your name here