In February the Teranet–National Bank National Composite House Price Index(tm) retreated 0.1% from the previous month, following December and January rises that had interrupted a downtrend. It was the first February decline since 2013. The index was up in only three of the 11 metropolitan markets surveyed, the fewest since October 2014: Vancouver (+0.4%), Hamilton (+0.2%) and Halifax (+0.8%).
For Vancouver it was the 12th rise in 14 months, taking its index to a new record. However, this market’s raw (unsmoothed) index* was down 1.3% on the month, a retreat coinciding with a cooling of home sales as reported by the Real Estate Board of Greater Vancouver.Read Article