{"id":10110,"date":"2018-08-23T10:10:54","date_gmt":"2018-08-23T17:10:54","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10110"},"modified":"2018-08-14T11:02:10","modified_gmt":"2018-08-14T18:02:10","slug":"a-rise-in-this-canadian-housing-price-index-doesnt-mean-prices-are-rebounding","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/08\/a-rise-in-this-canadian-housing-price-index-doesnt-mean-prices-are-rebounding\/","title":{"rendered":"A Rise in Teranet-National Bank HPI Doesn&#8217;t Mean Prices Are Rebounding"},"content":{"rendered":"<p style=\"text-align: justify;\">A major Canadian housing price index continued to rise in July, but one economist warns that the jump in prices isn\u2019t necessarily a good sign for the market.<\/p>\n<p style=\"text-align: justify;\">The Teranet-National Bank Composite Price Index rose 0.8% in July, following a 1% rise in June.<\/p>\n<p style=\"text-align: justify;\">\u201cThe Composite index rose in July for a fourth month in a row, but these rises were all below the historical average for these months,\u201d writes National Bank senior economist Marc Pinsonneault, in a note.<\/p>\n<p style=\"text-align: justify;\">\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/2018\/08\/seasonal-pressures-explain-the-rise-of-the-composite-index-in-june-and-july\/teranet-5\/\" rel=\"attachment wp-att-10105\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-10105\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/08\/Teranet-288x192.gif\" alt=\"\" width=\"585\" height=\"390\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/08\/Teranet-288x192.gif 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/08\/Teranet-768x512.gif 768w\" sizes=\"auto, (max-width: 585px) 100vw, 585px\" \/><\/a><\/p>\n<p>Pinsonneault adds that, after seasonal adjustment, the index was flat in July, after a drop in June.<\/p>\n<p style=\"text-align: justify;\">\u201cThe same phenomenon applied to the Toronto index\u2026where the adjusted index declined over the last four months,\u201d he writes.<\/p>\n<p style=\"text-align: justify;\">The adjusted index also declined over the last two months in Vancouver, reflecting a general flattening of prices.<\/p>\n<p style=\"text-align: justify;\">\u201cThis means that the recent rises in these indices reflected only seasonal pressures, not an underlying trend,\u201d writes Pinsonneault.<\/p>\n<p style=\"text-align: justify;\">The seasonally adjusted declines can be attributed in large part to a drop in demand for low-rise homes, while demand for lower-priced condos remains strong. The condo index rose a seasonally adjusted 1.6% month-over-month in July.<\/p>\n<p style=\"text-align: justify;\">\u201cThese numbers are consistent with market conditions, tighter for condos than for other housing,\u201d adds Pinsonneault.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/2018\/08\/rise-canadian-housing-price-index-doesnt-mean-prices-rebounding.html\" target=\"_blank\" rel=\"noopener\">A Rise in This Canadian Housing Price Index Doesn&#8217;t Mean Prices Are Rebounding<\/a> by Sarah Niedoba | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A major Canadian housing price index continued to rise in July, but one economist warns that the jump in prices isn\u2019t necessarily a good sign for the market. The Teranet-National &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/08\/a-rise-in-this-canadian-housing-price-index-doesnt-mean-prices-are-rebounding\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-10110","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A Rise in Teranet-National Bank HPI Doesn&#039;t Mean Prices Are Rebounding &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/08\/a-rise-in-this-canadian-housing-price-index-doesnt-mean-prices-are-rebounding\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"A Rise in Teranet-National Bank HPI Doesn&#039;t Mean Prices Are Rebounding &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"A major Canadian housing price index continued to rise in July, but one economist warns that the jump in prices isn\u2019t necessarily a good sign for the market. 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