Canada Teranet December house prices +0.8% m/m

• Teranet HPI shows sixth straight monthly gain on seasonally-adjusted basis
• Prior was +0.7%
• Non-seasonally adjusted -0.1% m/m
• Prices up 3.6% y/y vs 2.4% prior
• Prices just 0.3% below 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, though I have also seen signs of surging inventory for sale more recently.

This article was written by Adam Button at www.forexlive.com.