{"id":20630,"date":"2022-09-28T10:10:00","date_gmt":"2022-09-28T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=20630"},"modified":"2022-09-20T08:56:01","modified_gmt":"2022-09-20T15:56:01","slug":"teranet-national-bank-house-price-index-record-price-drop-2-1-in-a-single-month","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2022\/09\/teranet-national-bank-house-price-index-record-price-drop-2-1-in-a-single-month\/","title":{"rendered":"Teranet-National Bank House Price Index : Record Price Drop -2.1% in A Single Month"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Month-Over-Month<\/strong><\/p>\n<p style=\"text-align: justify;\">Before seasonal adjustment, the Teranet\u2013National Bank National Composite House Price IndexTM fell 2.4% from July to August, the largest monthly decline on record since the index began in 1999.<\/p>\n<p style=\"text-align: justify;\">After seasonal adjustment, the Teranet\u2013National Bank National Composite House Price IndexTM fell 2.1% from July to August, a record monthly drop and the fourth consecutive decline. In August, nine of the 11 CMAs included in the index experienced contractions, while prices were up in Calgary (+1.3%) and Edmonton (+2.8%). The largest price declines were recorded in Hamilton (-5.4%), Ottawa-Gatineau (-3.8%), Halifax (-3.6%) and Toronto (-3.5%). For the remaining CMAs not included in the composite index, a decrease was observed in 19 of the 20 CMAs. The largest monthly declines were in Saint John (-7.8%), Brantford (-7.7%), Barrie (-6.7%) and Kitchener (-6.2%). Conversely, only Lethbridge was up (+2.6%).<\/p>\n<p><strong>Year-Over-Year<\/strong><\/p>\n<p>The Teranet\u2013National Bank National Composite House Price IndexTM, covering eleven CMAs around the country, recorded an annual gain of 8.9% in August, the fourth consecutive month of lower growth than the previous month. Increases were seen in all eleven cities in the composite index in August. Halifax led the way with a 15.4% year-over-year price increase, followed by Victoria with a 14.8% gain and Calgary with a 13.6% increase. For the remaining 20 CMAs not included in the composite index, positive annual gains were observed in all of them, ranging from 6.0% in Lethbridge to 22.9% in Moncton.<\/p>\n<p><a href=\"https:\/\/housepriceindex.ca\/2022\/09\/august2022\/\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the full report.<\/p>\n<p><a href=\"https:\/\/housepriceindex.ca\/2022\/09\/teranet-national-bank-house-price-index-record-price-drop-in-august\/\" target=\"_blank\" rel=\"noopener\">Teranet-National Bank House Price Index Sees Record Monthly Decline in August<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Month-Over-Month Before seasonal adjustment, the Teranet\u2013National Bank National Composite House Price IndexTM fell 2.4% from July to August, the largest monthly decline on record since the index began in 1999. &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2022\/09\/teranet-national-bank-house-price-index-record-price-drop-2-1-in-a-single-month\/\">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-20630","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>Teranet-National Bank House Price Index : Record Price Drop -2.1% in A Single Month &#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\/2022\/09\/teranet-national-bank-house-price-index-record-price-drop-2-1-in-a-single-month\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Teranet-National Bank House Price Index : Record Price Drop -2.1% in A Single Month &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Month-Over-Month Before seasonal adjustment, the Teranet\u2013National Bank National Composite House Price IndexTM fell 2.4% from July to August, the largest monthly decline on record since the index began in 1999. &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/09\\\/teranet-national-bank-house-price-index-record-price-drop-2-1-in-a-single-month\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/09\\\/teranet-national-bank-house-price-index-record-price-drop-2-1-in-a-single-month\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Teranet-National Bank House Price Index : Record Price Drop -2.1% in A Single Month\",\"datePublished\":\"2022-09-28T17:10:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/09\\\/teranet-national-bank-house-price-index-record-price-drop-2-1-in-a-single-month\\\/\"},\"wordCount\":254,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/09\\\/teranet-national-bank-house-price-index-record-price-drop-2-1-in-a-single-month\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/09\\\/teranet-national-bank-house-price-index-record-price-drop-2-1-in-a-single-month\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/09\\\/teranet-national-bank-house-price-index-record-price-drop-2-1-in-a-single-month\\\/\",\"name\":\"Teranet-National Bank House Price Index : Record Price Drop -2.1% in A Single Month &#8226; 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