According to the Teranet-National Bank Composite Home Price Index (CHPI) which tracks data collected from public land registries to measure changes for repeat sales of single-family homes, Canadian home prices were up 0.7% in June when compared to May. However, it was the lowest June price advance in 17 years. Prices rose in nine of the 11 metropolitan areas in the index, with the Halifax region up 2.7%, Winnipeg, Manitoba gaining 1.8% and Hamilton, just outside Toronto, gaining 1.7%. When compared year-over-year, however, the number of repeat sales declined -24%, which is the second straight large drop from the year earlier. An indication that Canada’s housing market is slowing.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.