Real estate declines slowing in Canada

Canadian housing prices declined for the tenth consecutive month in February, but the drop was smaller than in January. -BNN Bloomberg

• The Teranet-National BankTM Composite House Price Index reported a 0.3% decline in home prices from January to February, compared to a 1.1% decrease in the previous month.

• Toronto and Calgary experienced the biggest contractions with drops of 2.7% and 2.4% respectively, followed by Halifax at 1.8%. Edmonton, Hamilton, Montreal, and Ottawa-Gatineau also saw declining prices.

• In contrast, Vancouver's housing prices increased by 3.8% in February, as did Victoria with a 1.9% increase, and Quebec City at 0.1%. Prices in Winnipeg remained stable.

• The Teranet-National BankTM Composite House Price Index tracks 11 cities, and it declined by 4.7% from February 2022 to February 2023, marking the second consecutive month with a negative annual index change.

See the full story here: https://www.bnnbloomberg.ca/canadian-housing-prices-had-smaller-decline-in-february-housing-index-1.1896928

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