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Teranet-National Bank House Prices Surge Higher In June

  • Released earlier today, Teranet-National Bank house price index jumped higher in June by a seasonally adjusted 2.2% M/M.
  • It marked the third consecutive monthly increase and the fastest pace since Nov’06.
  • Typically a more measured series than home sales price data, it follows three monthly 2% increases from the CREA benchmark series amidst continued tight supply and high immigration-led population growth.
  • The press release notes that “81% of cities covered in June saw an increase during the month, the best diffusion of growth since the composite index peaked last year.”

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