{"id":10364,"date":"2018-09-20T10:10:37","date_gmt":"2018-09-20T17:10:37","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10364"},"modified":"2018-09-12T09:44:07","modified_gmt":"2018-09-12T16:44:07","slug":"weak-canadian-home-price-growth-trend-did-not-turn-around","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/09\/weak-canadian-home-price-growth-trend-did-not-turn-around\/","title":{"rendered":"Weak Canadian Home Price Growth Trend Only Reflect Seasonal Patterns"},"content":{"rendered":"<p style=\"text-align: justify;\">A major Canadian housing price index flattened out in August, with one economist writing that the market is weaker than some industry watchers might believe.<\/p>\n<p style=\"text-align: justify;\">The Teranet-National Bank Composite Price Index rose 0.2% in August, following a 0.8% rise in July. But, when adjusted on a seasonal basis, the index was flat, after drops in June and July.<\/p>\n<p style=\"text-align: justify;\">\u201cThe published composite index rose in August for the fifth month in a row, but these rises only reflect usual seasonal patterns over this time of year,\u201d writes National Bank senior economist Marc Pinsonneault, in a note. \u201cIndeed, after seasonal adjustment the composite index was actually flat in August.\u201d<\/p>\n<p style=\"text-align: justify;\">\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/2018\/09\/weakness-in-toronto-vancouver-after-seasonal-adjustment\/teranet-national\/\" rel=\"attachment wp-att-10355\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-10355\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/09\/Teranet-National-288x189.gif\" alt=\"\" width=\"550\" height=\"361\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/09\/Teranet-National-288x189.gif 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/09\/Teranet-National-768x504.gif 768w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><\/p>\n<p>That means that at a national level the market is \u201ccertainly not displaying underlying strength,\u201d he writes, adding that the index is heavily skewed by Toronto and Vancouver, Canada\u2019s largest (and hottest) housing markets.<\/p>\n<p style=\"text-align: justify;\">\u201cThis is mostly a reflection of Toronto and Vancouver, the two most important real estate markets in Canada,\u201d writes Pinsonneault. \u201cThe published index for Toronto showed a fifth monthly increase in a row, but its seasonally adjusted counterpart displayed the opposite with five consecutive declines.\u201d<\/p>\n<p style=\"text-align: justify;\">The adjusted index also declined over the last three months in Vancouver, reflecting a general flattening of prices.<\/p>\n<p style=\"text-align: justify;\">But it\u2019s not bad news across the board. Pinsonneault is quick to note that both the Ottawa and Montreal housing markets continued to perform well last month.<\/p>\n<p style=\"text-align: justify;\">\u201cThere are areas displaying underlying strength, such as Montreal and Ottawa-Gatineau, whose indexes recorded a string of unusually large increases over the past few months,\u201d he writes.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/2018\/09\/weak-canadian-home-price-growth-trend-not-turn-around-august.html\" target=\"_blank\" rel=\"noopener\">Weak Canadian Home Price Growth Trend &#8220;Did Not Turn Around&#8221; in August<\/a> by Sarah Niedoba | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A major Canadian housing price index flattened out in August, with one economist writing that the market is weaker than some industry watchers might believe. The Teranet-National Bank Composite Price &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/09\/weak-canadian-home-price-growth-trend-did-not-turn-around\/\">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-10364","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Weak Canadian Home Price Growth Trend Only Reflect Seasonal Patterns &#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\/09\/weak-canadian-home-price-growth-trend-did-not-turn-around\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Weak Canadian Home Price Growth Trend Only Reflect Seasonal Patterns &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"A major Canadian housing price index flattened out in August, with one economist writing that the market is weaker than some industry watchers might believe. 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