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April 17, 2025TERANET-NATIONAL BANK HOUSE PRICE INDEX, MARCH 2025 Monthly (March 2025 vs February 2024, seasonally adjusted)
Halifax resale home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), fell by 1.9% from February to March, the fastest decline among the 11 cities included in the index.
The composite 11-city index of resale house prices declined 0.4% with gains in seven of 11 urban areas. Victoria reported the largest gain, followed by Winnipeg.
Year-over-year (March 2025 vs March 2024)
Halifax resale home prices were up 8.7% year-over-year. Prices for the 11-city composite index were up 2.3% with gains in all urban centres except Toronto. Québec City reported the fastest pace of growth over March 2024.
Year-to-date (January-March 2025 vs January-March 2024)
Halifax home prices were up 8.2% in the first three months of 2025 when compared with the same period in 2024. This was above the 11-city index average growth in resale home prices of 2.9%. Every city in the index except Toronto reported gains in home prices, with Québec City seeing the largest increase.
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. However, year-over-year house price growth slowed through 2024. Year-over-year house price growth in Halifax has outpaced national gains in all but one month since returning to positive growth in 2023.
Calgary, Edmonton, Winnipeg, Montréal, and Québec City set new highs for resale house prices in March.
Source: Teranet-National Bank
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