{"id":11167,"date":"2018-12-22T10:10:25","date_gmt":"2018-12-22T18:10:25","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11167"},"modified":"2018-12-21T16:41:35","modified_gmt":"2018-12-22T00:41:35","slug":"home-price-index-recorded-a-0-3-decline","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/12\/home-price-index-recorded-a-0-3-decline\/","title":{"rendered":"Home Price Index Recorded a 0.3% Decline"},"content":{"rendered":"<p style=\"text-align: justify;\">A key measure of changes in Canadian home prices has posted a decline for November.<\/p>\n<p style=\"text-align: justify;\">The Teranet-National Bank National Home Price Index rarely posts a decline in November \u2013 it\u2019s done so just 4 times in the 20 years \u2013 but it recorded a 0.3% decline from the previous month.<\/p>\n<p style=\"text-align: justify;\">Most markets declined with Quebec City, Halifax, and Victoria the exceptions.<\/p>\n<p style=\"text-align: justify;\">It was the second consecutive monthly decline with tighter mortgage lending rules and a rise in interest rates among the factors that have cooled demand significantly in some markets.<\/p>\n<p style=\"text-align: justify;\">In Vancouver, November was a fourth month in a row without a rise in home prices, for a cumulative drop of 1.8%; and in Toronto, prices declined over the last three months, for a total loss of 0.4%.<\/p>\n<p style=\"text-align: justify;\">There are also weak markets in Alberta, where prices did not rise for a fifth month in a row in Calgary, and for a third consecutive month in Edmonton, for cumulative declines of 1.4% and 1.3% respectively.<\/p>\n<p style=\"text-align: justify;\">The index for Victoria was flat while Halifax (0.1%) and Quebec City (1.2%) both gained.<\/p>\n<p style=\"text-align: justify;\">The HPI tracks price changes based a percentage rise or fall from a value of 100 set in June 2005.<\/p>\n<p style=\"text-align: justify;\"><strong>Annual Increases<\/strong><\/p>\n<p>While down month-over-month, the national HPI was up 3.1% year-over-year; exacerbated by a sharp drop in the previous three months.<\/p>\n<p style=\"text-align: justify;\">Victoria (5.3%), Ottawa-Gatineau (5.3%), Montreal (4.4%), Hamilton (4.4%), Vancouver (3.9%) and Toronto (3.3%) all posted above-national-average increases and there were smaller gains for Winnipeg (2.3%) and Halifax (1.7%).<\/p>\n<p style=\"text-align: justify;\">Indexes were down year-over-year in Quebec City (\u22120.3%), Edmonton (\u22120.4%) and Calgary (\u22122.7%).<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/home-price-index-posts-rare-november-decline-251854.aspx\">Home Price Index Posts Rate November Decline<\/a> by Steve Randall | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A key measure of changes in Canadian home prices has posted a decline for November. The Teranet-National Bank National Home Price Index rarely posts a decline in November \u2013 it\u2019s &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/12\/home-price-index-recorded-a-0-3-decline\/\">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-11167","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>Home Price Index Recorded a 0.3% Decline &#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\/12\/home-price-index-recorded-a-0-3-decline\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Home Price Index Recorded a 0.3% Decline &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"A key measure of changes in Canadian home prices has posted a decline for November. 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