|The 12-month gain of the composite index in November was 7.1%, a slight acceleration from 7.0% in October. However, the acceleration was due entirely to the base effect of a larger price decline (−0.4%) from October to November of the previous year. Since prices began rising again in December 2010, the recent acceleration trend in 12-month changes could come to an end with next month's report on December 2011 prices. The November 12-month change varied widely among the country's major markets: 10.8% in Toronto, 9.1% in Vancouver, 7.5% in Winnipeg, 7.2% in Montreal, 6.0% in Quebec City, 4.4% in Hamilton, 4.2% in Ottawa-Gatineau, 2.8% in Halifax, 1% in Hamilton, 0.5% in Calgary. Victoria prices were down 0.3% from a year earlier.|
In December, the seasonally adjusted ratio of new listings to sales (as reported by CREA) showed market conditions generally balanced in the country as a whole. The exceptions were tight markets in Toronto, Hamilton and Winnipeg and a buyer's market in Victoria.
Teranet – National Bank House Price Index™
The historical data of the Teranet – National Bank House Price Index™ is available at www.housepriceindex.ca.
The Teranet–National Bank House Price Index™ is an independently developed representation of average home price changes in six metropolitan areas: Ottawa, Toronto, Calgary, Vancouver, Montreal and Halifax. The national composite index is the weighted average of the six metropolitan areas. The weights are based on aggregate value of dwellings as retrieved from the 2006 Statistics Canada Census. According to that census1, the aggregate value of occupied dwellings in the metropolitan areas covered by the indices was $1.168 trillion, or 53% of the Canadian aggregate value of $2.207 trillion.
All indices have a base value of 100 in June 2005. For example, an index value of 130 means that home prices have increased 30% since June 2005.