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September 20, 2022TERANET-NATIONAL BANK HOUSE PRICE INDEX, AUGUST 2022 
Halifax home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), declined 3.6% from July to August 2022, the third consecutive monthly decline. Home prices in Halifax were 15.4% higher when compared to August 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 2.1% in August 2022 compared to July 2022. Monthly home prices declined the most in Hamilton while the only gains were reported in Calgary and Edmonton.
Nationally, resale home prices (seasonally adjusted) were up 9.0% from August 2021 to August 2022. Halifax (+15.4%) posted the 28th 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 Victoria (+14.9%) and Calgary (+13.5%). The slowest gains were recorded in Ottawa-Gatineau (+4.5%) and Edmonton (+4.6%).
Comparing the January-August 2022 period with the same period in 2021, Halifax home prices have averaged 28.6% higher - the highest gain among the urban areas.
Nationally, home prices were up 15.7% in January-August 2022. After Halifax, Hamilton (+23.2%) and Victoria (+19.7%) posted the highest gains while the smallest increase was in Edmonton (+3.2%).
Source: Teranet-National Bank
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