CALGARY — Calgary house prices in October fell for the second consecutive month, according to a new national survey which looks at repeat home sales.
The Teranet-National Bank National Composite House Price Index, released Thursday, said prices in Calgary fell by 1.5 per cent from September. However, they were up 1.7 per cent compared with a year ago.
The index is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index.
At the national level, prices were flat for the second consecutive month.
But they have increased 7.9 per cent in the 11 metropolitan markets that were surveyed.
On an annual basis, the following markets showed price increases: Halifax (1.6 per cent), Hamilton (4.5 per cent), Montreal (5.4 per cent), Ottawa (3.8 per cent), Quebec City (5.6 per cent), Toronto (10.4 per cent), Vancouver (10.0 per cent), and Winnipeg (7.0 per cent).
Decreases were registered in Edmonton (0.1 per cent) Calgary (1.5 per cent) and Victoria (0.2 per cent).
I suspect their November and December numbers will show a few more dropping from the Green column into the Red Column.