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March 17, 2021TERANET-NATIONAL BANK HOUSE PRICE INDEX, FEBRUARY 2021
In February 2021, Halifax home prices as measured by the Teranet-National Bank House Price Index increased 2.3% from the previous month. Compared to a year earlier, home prices were up 18.7% in Halifax.
Looking at the 11-city composite of the Teranet-National Bank House Price Index, monthly resale home prices increased 0.5% month-over-month in February 2021. Monthly home prices were up in eight markets, led by the gains recorded in Halifax (+2.3%) and Hamilton (+1.1%). Monthly declines were observed in Ottawa-Gatineau (-0.5%) and Edmonton (-0.1%).
Nationally, house prices increased 9.8% year-over-year in February 2021, following a 9.6% gain recorded in the previous month. Halifax (+18.7%) recorded the tenth consecutive month of double-digit gains over the same month in the previous year . In the 11-city composite index, year-over-year housing prices grew fastest in Ottawa-Gatineau (+19.0%). Compared to February 2020, home prices were higher in all 11 cities. The smallest increase was in Calgary (+0.8%).
Comparing the Jan-Feb 2021 period with Jan-Feb 2020, Halifax home prices have averaged 17.8% higher. Nationally, home prices are up 9.7% with the largest increase in Ottawa-Gatineau (+19.3%) and the smallest increase in Calgary (+0.1%).
Source: Teranet-National Bank
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