{"id":10600,"date":"2018-10-21T11:11:45","date_gmt":"2018-10-21T18:11:45","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10600"},"modified":"2018-10-17T14:57:22","modified_gmt":"2018-10-17T21:57:22","slug":"the-teranet-national-bank-composite-price-index-remained-flat-with-seasonal-effects","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/10\/the-teranet-national-bank-composite-price-index-remained-flat-with-seasonal-effects\/","title":{"rendered":"The Teranet-National Bank Composite Price Index Remained Flat with Seasonal Effects"},"content":{"rendered":"<p style=\"text-align: justify;\">A major Canadian home price index was flat in September, as strong figures from the Toronto market were levelled out by slower activity in Vancouver and Calgary.<\/p>\n<p style=\"text-align: justify;\">The Teranet-National Bank Composite Price Index remained flat last month, following a 0.2 percent rise in August.<\/p>\n<p style=\"text-align: justify;\">\u201cWhen seasonal effects are removed, the composite price index edged up in September, recovering some of the ground lost in previous months,\u201d writes Marc Pinsonneault, a senior economist at National Bank. \u201cWhile this applies in particular to Toronto, it is not the case for Vancouver and Calgary, where the seasonally adjusted indices extended a string of declines.\u201d<\/p>\n<p style=\"text-align: justify;\">\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/?attachment_id=10601\" rel=\"attachment wp-att-10601\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-10601\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/10\/teranet-288x204.png\" alt=\"\" width=\"555\" height=\"393\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/10\/teranet-288x204.png 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/10\/teranet-768x544.png 768w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/10\/teranet.png 902w\" sizes=\"auto, (max-width: 555px) 100vw, 555px\" \/><\/a><\/p>\n<p>The two cities\u2019 falling home prices matches their low sales over the past few months, according to Pinsonneault. The benchmark price of a Metro Vancouver home fell 3.1 percent in the third quarter of 2018, while the average price of a home in Calgary dropped 2.7 percent in September.<\/p>\n<p style=\"text-align: justify;\">\u201cCalgary\u2019s economy continues to struggle with unemployment, which rose again [in September] to over eight percent. Concerns in the employment market, higher lending rates and shaken confidence are weighing on housing demand,\u201d said Ann-Marie Lurie, chief economist of the Calgary Real Estate Board, last month.<\/p>\n<p style=\"text-align: justify;\">But it\u2019s not all bad news for markets outside the GTA. Montreal and Ottawa both saw solid price increases, continuing a trend that began earlier in the year.<\/p>\n<p style=\"text-align: justify;\">\u201cThis is consistent with the performance of the home resale market [in both cities],\u201d writes Pinsonneault. \u201cIn Montreal, home sales in September were up 8 percent from a year ago and at their highest level for a month of September in nine years. In Ottawa-Gatineau, the market is almost in the \u2018favourable to sellers\u2019 territory judging from the new-listings-to-sales ratio.\u201d<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/2018\/10\/2-canadian-housing-markets-rough-september.html\" target=\"_blank\" rel=\"noopener\">These 2 Canadian Housing Markets Had A Rough September<\/a> by Sarah Niedoba | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A major Canadian home price index was flat in September, as strong figures from the Toronto market were levelled out by slower activity in Vancouver and Calgary. The Teranet-National Bank &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/10\/the-teranet-national-bank-composite-price-index-remained-flat-with-seasonal-effects\/\">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-10600","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Teranet-National Bank Composite Price Index Remained Flat with Seasonal Effects &#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\/10\/the-teranet-national-bank-composite-price-index-remained-flat-with-seasonal-effects\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Teranet-National Bank Composite Price Index Remained Flat with Seasonal Effects &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"A major Canadian home price index was flat in September, as strong figures from the Toronto market were levelled out by slower activity in Vancouver and Calgary. 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