- Teranet HPI shows its sixth straight monthly gain on a seasonally adjusted basis
- The previous rate was +0.7%
- No seasonal change -0.1% m/m
- Prices up 3.6% y/y against 2.4% previously
- Prices just 0.3% lower than the April 2022 peak
- Strong showing in Western Canada with Edmonton leading at +1.6% m/m
- Toronto: +0.8% m/m, Vancouver +0.6% m/m
There are signs here that pent-up demand is being released following the Bank of Canada rate cuts, although I've also seen signs of an increase in inventory for sale recently.
This article was written by Adam Button at www.forexlive.com.
Source link
