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December 18, 2024TERANET-NATIONAL BANK HOUSE PRICE INDEX, NOVEMBER 2024 Monthly (November 2024 vs October 2024, seasonally adjusted)

Halifax resale home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), rose by 1.7% from October to November.
The composite 11-city index of resale house prices grew 0.6% with gains in ten of 11 urban areas. Québec City reported the fastest gain last month while Edmonton reported the only decline.
Year-over-year (November 2024 vs November 2023)
Halifax resale home prices were up 4.9% year-over-year. Prices for the 11-city composite index were up 2.5% with gains in nine cities. Québec City and Calgary reported the fastest paces of growth over November 2023 while Toronto and Victoria reported the only declines.

Year-to-date (January-November 2024 vs January-November 2023)
Halifax resale home prices were up 6.0% comparing the average of the first eleven months of 2024 with the same period in 2023. Prices were up 3.3% in the 11-city composite index with gains in all cities. Calgary reported the fastest gain while Victoria and Toronto reported the smallest gains.

Trends
After recording year-over-year house price declines for most of the first half of 2023, Halifax resale home prices returned to positive year-over-year growth starting in the second half of 2023. Year-over-year house price growth in Halifax has outpaced national gains in each of the last seven months.

Winnipeg, Québec City and Halifax set new highs for resale house prices in November.

Source: Teranet-National Bank
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