{"id":28352,"date":"2026-08-26T10:10:10","date_gmt":"2026-08-26T17:10:10","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=28352"},"modified":"2026-08-25T15:24:39","modified_gmt":"2026-08-25T22:24:39","slug":"teranet-national-bank-house-prices-index-stabilize-in-july-after-seven-months-of-declines","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2026\/08\/teranet-national-bank-house-prices-index-stabilize-in-july-after-seven-months-of-declines\/","title":{"rendered":"Teranet-National Bank House Prices Index Stabilize in July After Seven Months of Declines"},"content":{"rendered":"<p style=\"text-align: justify;\">After a cumulative contraction of 4.1% over the previous seven months, the Teranet\u2013National Bank Composite Index finally stabilized in July. This stabilization comes as transactions on the resale market continued to recover for a fourth consecutive month. While sales remained below their historical average, broadly balanced market conditions at the national level helped support prices, particularly in Vancouver (+0.7%) and Toronto (0.0%), where resale market conditions strengthened. The Toronto market saw a recent rebound in sales that helped prices stabilize for a second consecutive month in July, following declines in 15 of the previous 17 months. This is particularly important for the composite index, as Toronto and Vancouver alone account for 61.1% of the composite index (Toronto: 40.3%; Vancouver: 20.8%).<\/p>\n<p style=\"text-align: justify;\">Nationally, the recent rebound in transactions has likely been supported by the strong labour market performance in recent months as well as improved affordability in recent quarters. The drop in prices observed in the majority of the country\u2019s major cities may also have encouraged some buyers to return to the market. If the recovery in sales continues, it could eventually bring price growth back into positive territory. However, several factors are expected to limit the magnitude of the increase, including ongoing trade uncertainty, persistently high fixed mortgage rates and slower population growth.<\/p>\n<p style=\"text-align: justify;\"><strong>Month-Over-Month<\/strong><\/p>\n<p style=\"text-align: justify;\">The Teranet-National Bank Composite House Price Index\u2122 which covers the country&#8217;s eleven largest CMAs, remained stable from June to July, after adjusting for seasonal effects. This stability follows seven consecutive declines in previous months. In July, six of the 11 CMAs included in the index recorded declines: Hamilton (-1.5%), Victoria (-1.1%), Winnipeg (-0.4%), Quebec City (-0.4%), Montreal (-0.3%), and Calgary (-0.1%). Conversely, prices rose in Vancouver (+0.7%), Halifax (+0.7%), Edmonton (+0.5%), and Ottawa-Gatineau (+0.1%), while they remained stable in Toronto. In addition, declines were observed in nine of the 20 CMAs not included in the composite index for which data were available in July. The sharpest monthly declines were recorded in Lethbridge (-3.5%), Abbotsford-Mission (-2.7%), and Kelowna (-1.6%). Conversely, the sharpest increases were observed in Saint John (+3.8%), Thunder Bay (+2.5%), and Belleville (+1.9%).<\/p>\n<p style=\"text-align: justify;\">Before seasonal adjustments, the Teranet-National Bank Composite House Price Index\u2122 rose by 0.6% from June to July, marking the fifth 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 House Price Index\u2122 fell by 3.2% between July 2025 and July 2026, a smaller decline than the 4.3% drop observed the previous month. Declines were recorded in seven of the 11 cities that make up the composite index in July. Toronto led the way with a 5.7% year-over-year price decline, followed by Vancouver (-5.2%) and Hamilton (-4.1%). Conversely, the sharpest increases were seen in Quebec City (+8.5%), Winnipeg (+4.3%), and Montreal (+2.4%). Among the 20 other CMAs not included in the composite index, 14 posted year-over-year decreases. Among the declining markets, the sharpest drops were recorded in Abbotsford-Mission (-8.1%), Barrie (-6.9%), and Kitchener (-6.4%). Conversely, the strongest increases were observed in Thunder Bay (+6.5%) and Trois-Rivi\u00e8res (+8.5%).<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/housepriceindex.ca\/2026\/08\/july2026\/\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the full report.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/housepriceindex.ca\/2026\/08\/prices-stabilize-in-july-after-seven-months-of-declines\/\" target=\"_blank\" rel=\"noopener\">Teranet-National Bank House Price Index Stabilized in July<\/a> by Daren King | Economist | National Bank of Canada<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After a cumulative contraction of 4.1% over the previous seven months, the Teranet\u2013National Bank Composite Index finally stabilized in July. This stabilization comes as transactions on the resale market continued &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2026\/08\/teranet-national-bank-house-prices-index-stabilize-in-july-after-seven-months-of-declines\/\">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-28352","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 v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Teranet-National Bank House Prices Index Stabilize in July After Seven Months of Declines &#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\/2026\/08\/teranet-national-bank-house-prices-index-stabilize-in-july-after-seven-months-of-declines\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Teranet-National Bank House Prices Index Stabilize in July After Seven Months of Declines &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"After a cumulative contraction of 4.1% over the previous seven months, the Teranet\u2013National Bank Composite Index finally stabilized in July. This stabilization comes as transactions on the resale market continued &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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2026\\\/08\\\/teranet-national-bank-house-prices-index-stabilize-in-july-after-seven-months-of-declines\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2026\\\/08\\\/teranet-national-bank-house-prices-index-stabilize-in-july-after-seven-months-of-declines\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Teranet-National Bank House Prices Index Stabilize in July After Seven Months of Declines\",\"datePublished\":\"2026-08-26T17:10:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2026\\\/08\\\/teranet-national-bank-house-prices-index-stabilize-in-july-after-seven-months-of-declines\\\/\"},\"wordCount\":501,\"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\\\/2026\\\/08\\\/teranet-national-bank-house-prices-index-stabilize-in-july-after-seven-months-of-declines\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2026\\\/08\\\/teranet-national-bank-house-prices-index-stabilize-in-july-after-seven-months-of-declines\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2026\\\/08\\\/teranet-national-bank-house-prices-index-stabilize-in-july-after-seven-months-of-declines\\\/\",\"name\":\"Teranet-National Bank House Prices Index Stabilize in July After Seven Months of Declines &#8226; 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