Canadian house prices hurtle into virus

The Teranet-National Bank House Price Index for February has been released, which shows that Canadian house prices rose another 0.4% across the 11 major markets, with annual growth improving to 2.9%:

After falling for 14 straight months, Vancouver house prices have clearly bottomed, rising by 1.6% since their trough in September 2019.

However, Vancouver’s house prices were still down 2.1% from their July 2018 peak.

Elsewhere, Toronto’s and Montreal’s annual house price growth firmed to 5.1% and 7.5% respectively.

Leith van Onselen

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