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August 18, 2022TERANET-NATIONAL BANK HOUSE PRICE INDEX, JULY 2022 
Halifax home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), declined 1.0% from June to July 2022, the second consecutive monthly decline. Home prices in Halifax were 25.6% higher when compared to July 2021. Halifax posted the largest year-over-year gain in resale home prices among the cities included in the national index.
The 11-city composite on the Teranet-National Bank House Price Index declined (-0.2%) from its peak in July 2022. Monthly home prices declined the most in Toronto while the largest gain was in Calgary.
Nationally, resale home prices (seasonally adjusted) were up 14.2% from July 2021 to July 2022. Halifax (+25.6%) posted the 27th consecutive month of double-digit year-over-year gains and continued to lead the 11 cities index.
Following Halifax, the highest year-over-year gains were recorded in Hamilton (+21.3%) and Victoria (+18.2%). The slowest gain was recorded in Edmonton (+0.6%).
Comparing the January-July 2022 period with the same period in 2021, Halifax home prices have averaged 31.9% higher - the highest gain among the urban areas.
Nationally, home prices were up 17.2% in January-July 2022. After Halifax, Hamilton (+26.3%) and Victoria (+21.3%) posted the highest gains while the smallest increase was in Edmonton (+3.2%).
Source: Teranet-National Bank
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