Canadian home prices post second-biggest monthly jump since 2006: index

Home prices posted the second-highest increase ever recorded in a single month after the one observed in July 2006, according to the latest Teranet-National Bank composite index.

The index for July was up 2.4 per cent from June, after seasonal adjustments, and marked the fourth consecutive monthly rise.

After declining from a peak in April 2022 as the higher rate environment sidelined some buyers, recent rises in the home price composite index have erased some of this correction, the report said.