{"id":23766,"date":"2024-04-30T10:10:00","date_gmt":"2024-04-30T17:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=23766"},"modified":"2024-04-29T09:39:33","modified_gmt":"2024-04-29T16:39:33","slug":"teranet-national-bank-prices-index-continued-to-rise-with-a-small-gain-of-0-2-m-m","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2024\/04\/teranet-national-bank-prices-index-continued-to-rise-with-a-small-gain-of-0-2-m-m\/","title":{"rendered":"Teranet-National Bank Prices Index Continued to Rise, with A Small Gain of 0.2% M\/M"},"content":{"rendered":"<p style=\"text-align: justify;\">After returning to growth territory in February, the Teranet-National Bank Composite Index\u2122 continued to rise in March, with a small gain of 0.2% on the previous month. This increase in home prices comes at a time when the housing market has regained strength since November, buoyed in particular by exceptional demographic growth, slightly more advantageous fixed mortgage interest rates and the anticipation of policy rate cuts by the Bank of Canada. Although these factors will continue to support the real estate market in the months ahead, we are cautiously optimistic about a significant recovery in the housing market in the coming months and stronger price growth. Indeed, many uncertainties remain, including a potential further deterioration in the labour market for young people, who are facing the worst affordability conditions in decades.<\/p>\n<p style=\"text-align: justify;\"><strong>Month-Over-Month<\/strong><\/p>\n<p style=\"text-align: justify;\">After adjusting for seasonal effects, the Teranet-National Bank Composite House Price Index\u2122, which covers the country&#8217;s eleven largest CMAs, rose by 0.2% from February to March, the second consecutive monthly increase. In March, four of the 11 CMAs included in the index recorded growth: Vancouver (+2.7%), Edmonton (+2.0%), Calgary (+1.8%) and Quebec City (+1.6%). Conversely, there were decreases in Ottawa-Gatineau (-2.0%), Hamilton (-2.0%), Halifax (-1.8%), Winnipeg (-1.4%), Montreal (-0.9%), Toronto (-0.6%) and Victoria (-0.4%). On the other hand, increases were seen in 10 of the 20 CMAs not included in the composite index for which data are available in March. The strongest monthly increases were seen in Kingston (+12.0% after a 6.8% fall the previous month), Moncton (+8.9%), and Lethbridge (+4.0%). Conversely, the biggest falls were in Guelph (-7.6%) and Kitchener (-4.3%).<br \/>\nBefore seasonal adjustments, the Teranet-National Bank Composite House Price Index\u2122 rose by 1.6% from February to March, the second consecutive monthly increase.<\/p>\n<p style=\"text-align: justify;\"><strong>Year-Over-Year<\/strong><\/p>\n<p style=\"text-align: justify;\">The Teranet-National Bank Composite Home Price Index\u2122 rose by 5.6% from March 2023 to March 2024. Increases were observed in all 11 cities making up the composite index in March. Calgary led the way with a 14.3% year-over-year price increase, followed by Quebec City with a 10.9% gain and Toronto with a 6.0% increase. As for the lagging markets, prices rose by less than the average in Ottawa-Gatineau (+2.4%), Hamilton (+2.5%), Winnipeg (+2.7%), Montreal (+3.2%), Edmonton (+4.0%), Victoria (+5.2%) and Vancouver (+5.2%). As for the 20 other CMAs not included in the composite index, annual gains were observed in 19 of them. The strongest growth was recorded in Moncton (+24.5%) and Sudbury (+10.6%), while the Kelowna market (-3.3%) was still down.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/housepriceindex.ca\/2024\/04\/march2024\/\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the full report.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/housepriceindex.ca\/2024\/04\/prices-continued-to-rise-slightly-in-march\/\" target=\"_blank\" rel=\"noopener\">Teranet-National Bank House Price Index\u2122 \u00a0Continues to Rise in March<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After returning to growth territory in February, the Teranet-National Bank Composite Index\u2122 continued to rise in March, with a small gain of 0.2% on the previous month. This increase in &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2024\/04\/teranet-national-bank-prices-index-continued-to-rise-with-a-small-gain-of-0-2-m-m\/\">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":[8,13],"tags":[],"class_list":["post-23766","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Teranet-National Bank Prices Index Continued to Rise, with A Small Gain of 0.2% M\/M &#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\/2024\/04\/teranet-national-bank-prices-index-continued-to-rise-with-a-small-gain-of-0-2-m-m\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Teranet-National Bank Prices Index Continued to Rise, with A Small Gain of 0.2% M\/M &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"After returning to growth territory in February, the Teranet-National Bank Composite Index\u2122 continued to rise in March, with a small gain of 0.2% on the previous month. This increase in &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\\\/2024\\\/04\\\/teranet-national-bank-prices-index-continued-to-rise-with-a-small-gain-of-0-2-m-m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/04\\\/teranet-national-bank-prices-index-continued-to-rise-with-a-small-gain-of-0-2-m-m\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Teranet-National Bank Prices Index Continued to Rise, with A Small Gain of 0.2% M\\\/M\",\"datePublished\":\"2024-04-30T17:10:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/04\\\/teranet-national-bank-prices-index-continued-to-rise-with-a-small-gain-of-0-2-m-m\\\/\"},\"wordCount\":408,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\",\"Real Estate\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/04\\\/teranet-national-bank-prices-index-continued-to-rise-with-a-small-gain-of-0-2-m-m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/04\\\/teranet-national-bank-prices-index-continued-to-rise-with-a-small-gain-of-0-2-m-m\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/04\\\/teranet-national-bank-prices-index-continued-to-rise-with-a-small-gain-of-0-2-m-m\\\/\",\"name\":\"Teranet-National Bank Prices Index Continued to Rise, with A Small Gain of 0.2% M\\\/M &#8226; 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