Wednesday, April 25, 2012

Canada's Teranet Release for February Shows Small Drop

Teranet is a different kind of index. It compares pair-wise sales of the same property to look for increases and declines in price. This helps filter out sales mix effects and the impact of gentrification. Data are smoothed over time to eliminate noise. Because of the data collection method, they are always just shy of two months behind.

Declines month on month (January to February):

Victoria -1.09% (peak of June/July 2010 looks secure)

Vancouver -0.32% (steady slide from new peak in July/August 2011) (BTW, this matches Vancouver's old REBGV index, but not the new HPI)

Edmonton -1.03% (accelerating on a new downward leg)

Calgary -0.59% (on a decaying downward slide)

Hamilton -0.84% (recent downturn)

Ottawa -0.41% (another recent downturn)

(Note: recent downturns could be subject to future revision.)

Continuing a slow rise (but almost flat): Winnepeg, Toronto, and Montreal
Uptick: Quebec City and Halifax

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