Calgary experienced one of the highest rates of growth for prices of repeat home sales in June, according to a new report released Tuesday.
The Teranet — National Bank National Composite House Price Index said prices in Calgary rose by 2.5 per cent month-over-month following a record monthly drop of 3.3 per cent in May. Only Victoria, at 2.6 per cent, had a bigger monthly gain.
The index is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index.
Nationally, the index for 11 major centres surveyed in Canada reached a record level — up 1.4 per cent from the previous month, a sixth consecutive monthly increase. The rise was slightly above the June average of 1.3 per cent over the last 10 years., said the report.
On a year-over-year basis, prices were up 0.2 per cent in Calgary. They rose by 5.1 per cent nationally.
The report said Calgary prices remain 2.7 per cent below their peak in October 2014.
mtoneguzzi@calgaryherald.com
The Teranet — National Bank National Composite House Price Index said prices in Calgary rose by 2.5 per cent month-over-month following a record monthly drop of 3.3 per cent in May. Only Victoria, at 2.6 per cent, had a bigger monthly gain.
The index is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index.
Nationally, the index for 11 major centres surveyed in Canada reached a record level — up 1.4 per cent from the previous month, a sixth consecutive monthly increase. The rise was slightly above the June average of 1.3 per cent over the last 10 years., said the report.
On a year-over-year basis, prices were up 0.2 per cent in Calgary. They rose by 5.1 per cent nationally.
The report said Calgary prices remain 2.7 per cent below their peak in October 2014.
mtoneguzzi@calgaryherald.com
