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Canadian home prices continue upward swing

Starfish The Gray Team Ucluelet Real Estate

Canadian home prices showed momentum in July, rising 1.1 percent from June, according to the Teranet-National Bank house price index.

Victoria, Ottawa, Toronto and Quebec City had the highest month-to-month increases, and 10 of the 11 cities that the index tracks saw prices rise from June.

The out‎lier was Winnipeg, where prices have ticked down for three months in a row.

The 1.1-per-cent national gain marked the first time in five months that prices rose by more than the historical average for that month. ‎It was the eighth month in a row that prices rose from the prior month.

On a year-over-year basis prices across all the markets rose 4.9 percent. Calgary’s prices were up 8.2 percent from the prior July, Hamilton’s 7.1 percent, Toronto’s 6.6 percent and Vancouver’s 6.1 percent.

Edmonton saw prices rise 3.7 percent from a year earlier, Victoria 2.5 percent, ‎and Montreal 1.5 percent. Winnipeg and Ottawa’s prices were each 0.1 percent lower than a year earlier, while Quebec City and Halifax’s were each down 1.2 percent.

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