Canadian house price index from Teranet/National Bank:
– Up 1.0% m/m
– Prior reading was +5.1% y/y and +1.2% m/m
– Index level at 176.12 vs 174.33 prior
Back to back 1.0% and 1.2% monthly gains suggest the Canadian housing market is rock solid despite the recession this year. I can’t continue forever but there are no cracks at the moment.
